The Delta State Government has approved the State House of Assembly to examine and consider a proposed budget of N936 billion for the fiscal year 2025.
A press briefing was held at the Government House in Asaba after the State Executive Council meeting chaired by Governor Sheriff Oborevwori and State Commissioner for Economic Planning Mr. Sonny Ekedayen disclosed this information.
Commissioners Dr. Ifeanyi Osuoza for Information, Mr. Charles Aniagwu for Works (Rural and Riverine Roads), and Mr. Ebikeme Clark for Riverine Infrastructure joined Mr. Ekedayen.
He clarified that N348.7 billion (37.25%) is set aside for recurring expenses and N587.4 billion (62.75%) for capital expenditures in the proposed budget.
The 2025 budget plan is predicated on an N1,300/USD exchange rate.
Given that the Naira is now trading at over N1650 to the US dollar on the official market and that there is little indication of a large appreciation in 2025, the exchange rate utilized to base the budget appears implausible.
He stated, “This budget reflects our commitment to key sectors with a balanced approach between recurrent and capital expenditures.”
“This 2025 proposal is 29.12% 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.”
The Budget’s Funding Source
The administration of Governor Sheriff Oborevwori is dedicated to openness and responsibility, Mr. Ekedayen said, stressing that the 2025 budget will be entirely financed by internal sources and not borrowed.
He clarified that the Federal Accounts Allocation Committee’s (FAAC) allocations will cover a significant amount of the budget, with internally produced money as a backup source.
According to the commissioner’s projections, the state’s internally generated revenue would be at least N140 billion. In conjunction with federal contributions, this money would be the main funding source for the project plans proposed for 2025.
