Okowa Presents Budget Of N56.18 Billion For 2023

Delta State Governor Ifeany Okowa submitted a N561.8 billion budget for 2023 to the state legislature for approval on Thursday.

Presenting a budget called the “seamless and stable transition budget” for the state capital Asaba city, Okawa said the figure was up 17% from 2022. He said it consisted of recurring expenses of 200 million and capital investment of N32.66 billion, which accounted for 58%.

Okowa said the budget would be mainly funded through Internally Generated Revenue.

“With the sustenance of all the measures put in place to overhaul the revenue infrastructure, the IGR for 2023 is expected to improve.

“The signs are obvious with a performance of 89 per cent of the budget in the first nine months of the current year. We shall continue to sustain and improve on the measures taken thus far, which culminated in the increased revenue profile.

“While new sources of revenue are being explored, we shall also intensify enforcement of appropriate tax legislation.

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“It is, therefore, our projection to generate the sum of N95 billion as IGR in 2023, representing 17 per cent of the total projected revenues for the year,” he said.

The governor said the IGR estimate for 2023 was higher than that of 2022 by N15 billion, with a proposed growth rate of 19 per cent.

Okowa also said the budget would focus on strengthening the existing administrative institutional framework, build capacity of public servants, ensure value for money and improve the quality of public service delivery.

“The state government will also strengthen the relevant institutions of the state responsible for sustaining the reforms and gains of the Fiscal Transparency, Accountability and Sustainability programme of the World Bank which has recorded tremendous improvements in our financial administrative processes,” he said

NAN

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