Governor of Bayelsa State, Douye Diri, has presented N385.2billion budget estimate for 2023 fiscal year to the State House of Assembly.
The Appropriation Bill christened “Budget of Sustainable Reconstruction”, is expected to be largely funded by 40 per cent from federal allocation receipts, 39 per cent of 13 per cent derivation fund, 5 per cent Internally Generated Revenue (IGR), 4 per cent of grants and 12 per cent from loans.
Governor Diri, who pointed out that the compilation of the 2023 budget proposal was done after an interactive session with stakeholders in September, 2022, said the budget takes into consideration the needs of the people of the state.
He also indicated that considering the 70.7 per cent implementation of the 2022 budget for nine months, the 2023 budget proposal will take care of the personnel cost estimated at N63.5 billion, overhead cost N95billion, capital expenditure, N167.5billion and pension and gratuity, N14.7billion.
Also, public and debt servicing is expected to gulp N33.7billion and contributory pension, N4.7billion.
In the breakdown of funds allocated to ministries in the state, Gov. Diri announced that Works & Infrastructure has N77.9billion, Education, N40.4billion, Agriculture, N14.1billion, Finance, N13.8billion, Health,12.5billion and Lands and Housing, N7.2billion.
Others are Ministry of Information, Orientation and Strategy, N6.3billion, Local Government and Community Development, N5.7billion, Transport, N5.3billion, Youths and Sports Development, N4.6billion, Trade &Investment, N2.8billion and Power, N2.5billion.
The speaker of the Assembly, Hon Abraham Ngobere commended the state governor, Senator Douye Diri for the ongoing projects at different levels of completion, describing the approaches adopted by the state government as tactical and commendable.
“On the budget, may I start by appreciating our governor and his team for their commitment, courage and character in implementing the 2022 budget in the face of daunting economic challenges. As a state we are particularly proud of the various ongoing projects at different levels of completion. Also, kudos to your tactical and unique approaches toward every sector in this administration.
“Let me specifically commend your commitment in creating the enabling environment for projects such as the Yenagoa/Oporoma/Ukubie road with assurance of driving to Angiama before the ends of this tenure. And, the West Senatorial Road as well as the Nembe/Brass road. Particularly, a mention must be made of the various constituency projects as these directly concern us as the representatives of the people. This brings about rural developments.”
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