By Samuel Oyadongha
Yenagoa—Governor Seriake Dickson of Bayelsa State, yesterday, presented to the state House of Assembly a budget estimate of N299.2bn for 2014 fiscal year.

The appropriation bill comprises N162.5bn recurrent expenditure and N136.7bn capital expenditure, against N304.05bn passed into law by the state House of Assembly in 2013.
Presenting the appropriation bill to the state House of Assembly in Yenagoa, Dickson said the bill would be financed from a total revenue projection of N282.6bn and capital receipts of N16.5bn.

Tagged Budget of Further Consolidation, the governor, who restated his commitment to diversification from oil and gas sector, said the budget revenue profile consisted of Statutory Allocation of N262.7bn, Value Added Tax; N7.8bn, Internal Generated Revenue; N12.2bn and Capital Receipts of N26.7bn.

On the estimated expenditures of N299.2bn, the breakdown, according to the governor is as follows: Personnel cost; N39.003bn, Overhead cost; N51.5bn, Consolidated Revenue Charges; N58.8bn, Human Capital Development; N13.3bn and Capital expenditure; N146.7bn.