The Delta State House of Assembly has approved a budget of N725 billion for the 2024 fiscal year.
The approved budget is N10 billion higher than the N714 billion earlier presented to the House by Governor Sheriff Oborevwori.
The approval came following the passage of the 2024 appropriation bill by the state legislature.
The passage of the bill, read the third time on the floor of the House, was a sequel to a report presented by the Chairman, House Committee on Finance and Appropriation, Marylyn Okowa-Daramola, at Thursday’s plenary, presided over by the Speaker, Emomotimi Guwor.
Okowa-Daramola noted in the report that the committee, after careful legislative consideration of the proposed budget, decided to make a slight upward review in line with contemporary economic realities.
The approved budget by the lawmakers revealed a significant increase in the proposed capital expenditure from N397.8 billion to N408.3 billion, representing an increase of 2.7 per cent over the proposed capital expenditure budget.
On recurrent expenditure, the House approved a budget of N316.6 billion as against the earlier proposed budget of N316.5 billion, representing an increase of 0.21 per cent over the proposed recurrent expenditure budget.
“The year 2024 budget belongs to the present time and it’s in line with His Excellency’s M.O.R.E. agenda. Indeed, it is a budget of “Hope and Optimism,” and, on this note, the Finance and Appropriation Committee hereby submits the appropriation bill 2024 as amended for consideration by this honourable house,” Okowa-Daramola said.
According to the legislator, the increased figure is aimed at funding some critical sectors of the state, which include health, works, and urban renewal, among others.
The House, having dissolved itself into the Committee on Supply as chaired by the Speaker, examined the finance and appropriation report as presented, just as relevant amendments were effected.
It would be recalled that Governor Sheriff Oborevwori had, barely two weeks ago, presented to the state assembly a budget proposal of N714 billion for legislative consideration and approval.
Speaking shortly after the passage of the bill, Speaker Emomotimi Guwor noted that the passage of the bill is in line with global practice.
