By JIMITOTA ONOYUME & EGUFE YAFUGBORHI
PORT HARCOURT— GOVERNOR Rotimi Amaechi of Rivers State, has sent to the state House of Assembly, a budget proposal of N490.32 billion for the 2013 fiscal year for the state.
The proposed budget presented to the lawmakers at the Assembly chambers, yesterday, was padded by N52.32 billion, translating to 11.95 per cent increase from the N438 billion appropriated for the year ending December 2012.
The budget is tagged “Budget of Work in Progress.”
The governor said: “We are committed to ensuring that no project is left uncompleted in the life of this administration. In 2013, our commitment to the critical sectors that drive and sustain economic growth (power, roads and transport, education and health) will continue to remain topmost priority.”
The N490.32 billion proposed for 2013, is to be funded by Statutory Allocation of N245 billion; Internally Generated Revenue, IGR, including social levy of N80 billion; Prior year balance of N48.32 billion; Bond proceeds of N100 billion and World Bank/African Development Bank, ADB, credit of N17 billion.
From its breakdown, capital expenditure for 2013 is put at N314.30 billion (64.10 percent) as against N323.70 billion in 2012. Recurrent projected is put at N176.02 billion (35.90 percent) against N114.25 billion in 2012 representing a sharp increase of 54.06 percent in recurrent expenditure and 2.92 percent dive in capital expenditure compared to the 2012 votes respectively.
….As Dickson presents N285.93bn 2013 budget to Bayelsa House
By Samuel Oyadongha
Yenagoa — Governor Seriake Dickson of Bayelsa State, yesterday, presented his 2013 Appropriation Bill of N285.930 billion to the state House of Assembly for approval.
The N285.93 billion budget is an increase of N48 billion from the 2012 revised budget of N217.58 billion presented to the Assembly by the governor, which was later jerked up to N238.157 billion.
Tagged Budget of Consolidation, the governor said out of the appropriated sum, N98.71 billion was earmarked for recurrent expenditure while N156.305 billion was voted for capital expenditure.
The proposed bill, according to the governor, will be financed from a total revenue projection ofN247.902 billion and capital receipts of N38.028 billion.
In his sectoral analysis, the Works and Infrastruture sub-sector took the lead with N38.8 billion followed by Education with N28.4 billion.
Justifying the vote for the Works and Infrastructure sub sector, the governor said it will assist in the completion of ongoing projects and commencement of new ones that will be of benefit to the people of the state.