Delta Budgets N398.31 For 2013

WITH a promise to focus on programmes that will stimulate job creation and also place emphasis on on-going projects, Delta State Governor, Emmanuel Uduaghan Friday in Asaba reeled out a budget proposal of N398.31 billion for the 2013 fiscal year.

Uduaghan, who announced the budget before lawmakers at the State House of Assembly, explained that the amount comprised of N145.94 billion or 36.64 per cent for Recurrent Expenditure and N252.37 billion or 63.36 per cent for capital expenditures.

The governor said that the budget proposal showed a decrease of N38.9 billion or 8.9 per cent when compared to the year 2012 approved budget of N437.21 billion.

According to him, the state government will raise N61.4 billion through internally generated revenue, representing 15.43 per cent as against the N51.4 billion proposed for 2012 while N198.5 billion representing 49.84 per cent would be generated as statutory allocation as against the N170 proposed for 2012.

He said that a total sum of N11.4 billion or 2.87 per cent of the budget will be derived from Value Added Tax, which is higher than the 2012 proposal of N9.9 billion just as N126.9 billion (31.86 per cent) would be sourced through capital receipts as against the N151.9 billion proposed for the preceding year.

The governor reiterated the determination of his administration to address the uphill task of ensuring peace and security, reducing poverty and building infrastructure.

For the 2012 fiscal year, he said that a budget of N437.21 billion was approved for the services of the state government, an amount that was made up of a recurrent expenditure budget of N180.84 billion and a capital budget of N256.37 billion.

During the nine months of January to September this year, the governor told the legislators that the government recorded a total revenue performance of N190.03 billion, representing an overall performance of 57.95 per cent over expected proportionate receipts of N327.91 billion.

Out of the amount, he explained that the sum of N137.89 billion was received as Statutory Allocation from the Federation Account. The amount represents 108.15 per cent performance of the proportionate estimate of N127.5billion while the sum of N7.44 billion was recorded as receipts from Value Added Tax (VAT) out of the proportionate projected receipts of N7.49 billion representing a budget performance of 99.40 per cent.