Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Economy Budget

2022 budget: Bayelsa state governor presents N310 billion budget, plans N45 billion borrowing

William UkpebyWilliam Ukpe
1 year ago
in Budget, Politics, Spotlight
2022 budget: Bayelsa state governor presents N310 billion budget, plans N45 billion borrowing
Share on FacebookShare on TwitterShare on Linkedin

The Governor of Bayelsa state, Douye Diri presented a N310.7 billion budget estimate for 2022 to the Bayelsa State House of Assembly in Yenagoa.

The bill, which was presented on Wednesday, will be called the “Budget of Sustainable Growth’’ and it is to be partly funded from borrowing and grants from development partners.

The Governor also added that his administration is drafting a 30-year development plan for the state, citing that when the budget is approved, it would be beneficial for the creation of critical infrastructures, sustain urban renewal and development, create wealth and job opportunities, build human capital and strengthen agriculture.

What Governor Douye Diri said

“We intend to explore other sources of funding apart from our projected revenue and expected federal allocation. We intend also to borrow N45.8 billion to fund 13 per cent of the total budget estimate.

“The expected aide and grants from our development partners is estimated at N24.7 billion, which is approximately 8 per cent of the total budget estimate.

“The 2021 ‘Budget of Growth’ was based on a benchmark oil price of 38 dollars per barrel of oil and production capacity of 1.8 million barrels per day and an exchange rate of 379 Naira to the dollar.

“Notwithstanding shortfall in our expected revenue inflow and the rise in our internal expenditures, we gave approval to augment payment of new minimum wage to local government workers, primary school teachers and cleared minimum wage arrears.

He added that the 2021 Budget was framed to give the state a positive outlook and drive it to a genuine path of prosperity after the 2020 COVID-19 pandemic as more than 60 per cent of the capital expenditure was allocated to sectors that drive investments, economic growth, improved infrastructure, youth and women empowerment.

He stated that the 2021 heights were achieved through support to trade, entrepreneurial and agricultural activities and sustainable policy formulation and implementation of ICT.

“The education sector is enjoying robust funding, infrastructure upgrade and improved policy implementation.

“We have put machinery in place to establish vocational schools and technical skills training centres to aid the training of our youths and women in skillsets that are of high demand to make them employable,’’ he said.

The Bayelsa state 2022 budget breakdown includes capital expenditure of N110.980 billion, Education – N4 billion, Agriculture – N12 billion and Works – N51 billion, among others.

In case you missed it

Nairametrics reported earlier that the Delta State Government, through the State Executive Council (EXCO), proposed the sum of N469.4 billion as appropriation for the 2022 fiscal year, while Internally Generated Revenue (IGR) from the projected budget is expected to be N75 billion to N80 billion.

Related

Tags: Bayelsa state 2022 budget

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 
  • Girl Child: Nurturing Our Women, Nigeria’s Own Wealth
  • Nigeria investing heavily in food, packaging and plastics technology

Follow us on social media:

Recent News

Naira, fuel scarcity: Lagos announces 50% transport fare reduction for BRT, LAGRIDE, others, sets up Food bank

Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 

February 8, 2023
GIrl child

Girl Child: Nurturing Our Women, Nigeria’s Own Wealth

February 8, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics