By Festus Ahon

ASABA—Governor Ifeanyi Okowa of Delta State, yesterday, presented his 2016 budget proposal of N265.6 billion, allocating 57.65 percent to recurrent expenditure and 42.35 percent to capital expenditure to the state Assembly.

Presenting the budget which he said, would provide a roadmap for revitalizing the economy, maintaining strict fiscal discipline, creating wealth, promoting employment, encouraging self reliance and developing a knowledge-based economy on the floor of the state House of Assembly, Okowa said the 2016 budget “showed a marginal increase of N12.72 billion when compared with the 2015 approved amended budget of N252.943 billion.”

BUDGET: Governor Ifeanyi Okowa of Delta State (left) and Speaker, Delta State House of Assembly, Monday Igbuya, during the governor’s presentation of 2016 Budget, to Delta State House of Assembly, in Asaba yesterday. Photo: Nath Onojake.

Giving the breakdown of the recurrent expenditure of N153.156 billion, the governor said N68.453 billion is for personal cost, while N30.166 billion is for overhead costs.

He added: “The Consolidated Revenue Fund Charges has a proposed sum of N54.536 billion or 35.61 percent. On the whole, the recurrent proposal for 2015 is lower by N9.587 billion or 5.89 percent when compared with the sum of N162.744 billion approved amended budget for 2015.

“I present this budget today (yesterday) in an economic environment of anxiety and uncertainty, amidst expectations for quick results, faster development and the highest levels of discipline, honesty and transparency in government.

“It contains guidelines to enhance our competitiveness in areas where we are strong and facilitate the development of our state, foster a clean, efficient and dedicated civil service, support social enterprises, promote investment, stimulate economic growth, and articulate the strategies for passing on the benefit of this growth to the common man, woman, youth and child whose quality of life desperately needs to be enhanced. To these aspirations, we are irrevocably committed, and we will do everything as a government to actualise them.”