Against all odds and speculations in the polity, Delta State Governor, Dr. Ifeanyi Okowa said he would remain resolutely focused in providing good governance and service delivery to the people of the state
Governor Okowa reiterated that his administration has made good progress particularly in education, health, road s, infrastructure, unemployment and above all, maintain peace where conflict once existed, “you will agree with that these are modest contributions to good governance”.
Governor Ifeanyi Okowa spoke at the state House of Assembly while presenting budget proposal of N561.820 billion of the state government for the 2023 fiscal year.
The budget made up of N235.2 billion representing 40 per cent of the total budget estimate for recurrent expenditure, and #326.6 billion representing 48 per cent for capital expenditure, was Christened “Budget of Seamless and Stable Transition”.
Governor Ifeanyi Okowa in his presentation which lasted over an hour, said the budget would be funded through federal allocation, internally generated revenue, (IGR), and receipt from other sources.
Okowa stated that it is government expectation that all spending proposals for the 2023 budget must be guided by principles of fiscal discipline, transparency, accountability, and prudent utilization of scarce resources.
He noted that the 2023 budget is targeted at strengthening the achievements made by his administration since 2015, noting that it intend to maintain a policy thrust of prudent management of resources, budget discipline, observance of due process, as well as ensuring good value for money, completion of ongoing projects and provision of basic infrastructure.
Others according to the Governor, include general increase in agricultural production, improving the livelihood of those in the lower rung of the economic ladder and enhancement of Internally Generated Revenue.
The Governor disclosed that in preparing the budget, macro-economic framework for the 2023 – 2025 Medium Term Expenditure Framework and the Fiscal Strategy Paper as well as the National Inflation consumer prices, the real GDP growth, derived from the National Bureau of Statistics and the federal government’s assumptions for the preparation of the 2023 budget were considered.
The Governor listed a benchmark oil price of 70 US Dollars per barrel; daily oil production benchmark of #1.69 million barrels, exchange rate of #435.57 per US Dollar; and GDP growth projected at 3.75 per cent and inflation closing at 17.16 per cent, were assumptions in arriving at the budget estimate.
He said his administration have therefore painstakingly prepared an equitable, realistic, and implementable budget estimates in the context of multi-year 2021-2023 Medium Term Expenditure Framework that will be in line with the current economic realities.
The Governor also disclosed that the recurrent expenditure of #235.2 billion showed an increase of 25 per cent from the 2022 Budget of #188.2 billion.
While the capital expenditure of #326.6 billion raised the 2022 budget estimate above that of 2023 by 17 per cent.
Welcoming the Governor to the hallowed chamber for the budget presentation, the Speaker, Sheriff Oborevwori, commended the Governor for the giant strides recorded by his administration in infrastructural and human capital development in the last seven and half years.
Oborevwori stated that Okowa’s model entrepreneurship development programmes have rescued many youths and women from unemployment and underemployment.
