The Delta State Government has approved the submission of a proposed budget of N936 billion for the 2025 fiscal year to the State House of Assembly for review and deliberation.
This was revealed by the State Commissioner for Economic Planning, Mr. Sonny Ekedayen, during a briefing with journalists following the State Executive Council meeting led by Governor Sheriff Oborevwori at the Government House in Asaba.
Mr. Ekedayen was joined by the Commissioners for Information, Dr. Ifeanyi Osuoza; Works (Rural and Riverine Roads), Mr. Charles Aniagwu; and Riverine Infrastructure, Mr. Ebikeme Clark.
He explained that the proposed budget allocates N587.4 billion (62.75%) to capital expenditure and N348.7 billion (37.25%) to recurrent expenditure.
The budget framework for 2025 is based on an exchange rate of N1,300 per dollar.
The exchange rate used in basing the budget seems unrealistic considering the Naira currently trades at over N1650 to the greenback on the official market and there is little projection of a significant appreciation in 2025.
He said, “This budget reflects our commitment to key sectors with a balanced approach between recurrent and capital expenditures.”
“This 2025 proposal is 29.12 per cent larger than the current year 2024 budget, demonstrating our dedication to advancing the state’s development.”
“Our focus areas remain clear: agriculture; support for micro, small, and medium enterprises; youth empowerment; tourism; entertainment; social safety nets through poverty alleviation; physical infrastructure; healthcare; and education.”
“While this provides an overview of the proposed budget, it is still subject to review and will be officially transmitted to the State House of Assembly for further deliberation,”
Source of funding for the budget
- Mr. Ekedayen stated that Governor Sheriff Oborevwori’s administration is committed to transparency and accountability, emphasizing that the 2025 budget will be fully funded through organic sources without any borrowing.
- He explained that a substantial portion of the budget would be financed by allocations from the Federal Accounts Allocation Committee (FAAC), with internally generated revenue as a secondary source.
- The commissioner projected that the state’s internally generated revenue would reach at least N140 billion, adding that this revenue, alongside federal allocations, would serve as the primary funding source for the 2025 project proposals.
