Godwin Udoh
Delta State Commissioner for Budget and Economic Planning, Mr. Sonny Ekedayen, has announced that the 2025 budget will primarily be funded through the Federal Accounts Allocation Committee (FAAC) and Internally Generated Revenue (IGR), without the need for borrowing.
Mr Ekedayen who disclosed this while briefing newsmen after the Exco meeting presided over by Governor Sheriff Oborevwori, said, the proposed budget comprised N587.4 billion, representing 62.75 percent for Capital Expenditure, while N348.7 billion, representing 37.25 percent, is for recurrent expenditure.
Mr.Ekadeyan, who was flanked by Commissioner for Information, Dr Ifeanyi Osuoza, and his counterparts in Works (Rural and Riverine Roads), Mr Charles Aniagwu and Riverine Infrastructure, Hon. Ebikeme Clark, said the 2025 proposed budget was premised on an exchange rate of N1,300 per dollar.
“The budget size is N936,078,818,719 billion, broken down into capital and recurrent components of N587,361,060,084 billion capital, representing 62.75 per cent, while the recurrent component is N348,717,758,635 billion, representing 37.25 per cent.
“This budget reflects our commitment to key sectors with a balanced approach between recurrent and capital expenditures.
“This 2025 proposal is 29.12% larger than the current year’s budget, demonstrating our dedication to advancing the state’s development.
“Our focus areas remain clear: agriculture; support for micro, small, and medium enterprises; youth empowerment; tourism; entertainment; social safety nets through poverty alleviation; physical infrastructure; healthcare; and education.
“While this provides an overview of the proposed budget, it is still subject to review and will be officially transmitted to the State House of Assembly for further deliberation.”
The commissioner also added that, the Oborevwori’s administration is anchored on transparency and accountability, added that the 2025 budget will be 100% organically funded without any borrowing.
“To give a clearer perspective, we anticipate that our Internally Generated Revenue will reach at least N140 billion.
“For the 2025 project proposals, this combination of Federal allocation and internally generated revenue will be the primary sources of funding.”
