Senator Ifeanyi Okowa, the Delta State Governor on Wednesday presented an appropriation bill of N389,190,799,362 for 2020 fiscal year to the State House of Assembly.
Here are 10 takeaways from the Delta 2020 Budget presentation;
1. The Delta State budget was christened “Budget of sustained development”. Estimated at about N389 billion.
2. Delta’s Recurrent expenditure is 44%, about N171.5 billion
3. Delta’s Capital expenditures account for 56%, about N217.6 billion
4. The proposed capital expenditure of N218 billion is made up of;
- N12.3 billion for the administrative sector
- N110.3 billion for Economic sector
- N1.5 billion for Law and Justice sector
- N43.7 billion for Regional Sector
- N46.7 billion for social sector
- N3 billion for contingency fund
5. The Delta 2020 State budget is N2 billion lesser than the 2019’s budget
6. Delta 2019 budget was N391 billion while 2020 is N389bn
7. The 2020 revenue and expenditure estimates were based on medium-term expenditure
8. The budget was projected on $57 benchmark for crude oil
9. The projected debt of Delta state is about N200 billion
10. Okowa said right now he can comfortably pay back the debts on a monthly basis.