The Governor of Bayelsa State, Douye Diri, has just presented a N385.2 billion budget estimate for 2023 to the State House of Assembly.
Details of the budget showed that the largest chunk of it would be funded with revenue coming from the federal government coffers as the state targets a paltry 5% Internally Generated Revenue (IGR).
Specifically, the appropriation bill christened “Budget of Sustainable Reconstruction” is expected to be funded by 40 per cent from Federal Allocation receipts, 39 percent of 13 percent derivation fund, 5 percent Internally Generated Revenue (IGR), 4 percent of grants and 12 percent from loans.
Meanwhile, the Ministry of Works, Infrastructure, Education and Agriculture are occupying the top spots for the allocation of the budget in 2023.
Governor Diri, who pointed out that the compilation of the 2023 budget proposal was done after an interactive session with stakeholders in September, 2022, said the budget takes into consideration the needs of the people of the state.
He also indicated that considering the 70.7 per cent implementation of the 2022 budget for Nine months, the 2023 budget proposal will take care of the personnel cost estimated at N65 billion, Overhead cost,N95 billion, Capital Expenditure, N167.5billion and Pension& gratituity, N14.7billion.
Also Public and debt servicing is expected to gulp N33.7billion and Contributory pension, N4.7billion.
In the breakdown of funds allocated to Ministries in the state, Gov. Diri announced that Works & Infrastructure has N77.9billion, Education, N40.4billion, Agriculture, N14.1billion, Finance, N13.8billion, Health,12.5billion and Lands AND Housing, N7.2billion.
Others are Ministry of Information, Orientation and Strategy, N6.3billion, Local Government & Community Development, N5.7billion, Transport, N5.3billion, Youths and Sports Development, N4.6billion, Trade Investment, N2.8billion and Power, N2.5billion.
The Speaker of the Bayelsa State House of Assembly, Rt. Hon. Abraham Ngobere commended the State Governor, Senator Douye Diri for the ongoing projects at different levels of completion, describing the approaches adopted by the state government as tactical and commendable.
“On the budget, may I start by appreciating our governor and his team for their commitment, courage and character in implementing the 2022 budget in the face of daunting economic challenges.As a state we are particularly proud of the various ongoing projects at different levels of completion. Also, kudos to your tactical and unique approaches toward every sector in this administration”.
“Let me specifically commend your commitment in creating the enabling environment for projects such as the Yenagoa/Oporoma/Ukubie road with assurance of driving to Angiama before the end of this tenure. And, the West Senatorial Road as well as the Nembe/Brass road.Particularly, a mention must be made of the various constituency projects as these directly concern us as the representatives of the people. This brings about rural developments.”