Oborevwori Says Delta Won’t Borrow to Fund 2025 Budget, Presents N936bn Appropriation Bill
*Approves Azinge as Asagba of Asaba
Omon-Julius Onabu in Asaba
The Delta state Governor, Sheriff Oborevwori, yesterday said the state will not borrow to fund its proposed 2025 Budget of N936 billion, which was approved at the 7th State Executive Council (EXCO).
The bill will be formally presented to the Delta State House of Assembly today (Wednesday) by the governor.
The State Commissioner for Economic Planning, Mr Sonny Ekedayen, while briefing newsmen on key resolutions at the meeting held at the Government House Asaba, said that the budget for the next fiscal year would be funded from statutory allocation.
Aside that he stated that it will also be funded from other sources, including estimated N140 billion from Internally Generated Revenue (IGR).
“The budget is going to be organically funded; in other words, we won’t borrow”, Ekedayen said, noting that the proposed budget comprised N587.4 billion, representing 62.75 percent for capital expenditure, while N348.7 billion, representing 37.25 percent, is for recurrent expenditure.
Flanked by Dr Ifeanyi Osuoza, Mr Charles Aniagwu and Hon Ebikeme Clark – his counterparts in the information, Works (Rural and Riverine Roads) and Riverine Infrastructure ministries, respectively, Ekedayen said that the 2025 budget estimates were premised on Nigeria’s exchange rate of N1,300 to a dollar.
He said: “The budget size is N936,078,818,719 billion, broken down into capital and recurrent components of N587,361,060,084 billion capital, representing 62.75 per cent, while the recurrent component is N348,717,758,635 billion, representing 37.25 per cent.
“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’s 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.
“However, a significant portion of the funding will come from the Federal Accounts Allocation Committee (FAAC) allocations, with our internally generated revenue serving as the secondary source.
“To give a clearer perspective, we anticipate that our Internally Generated Revenue will reach at least N140 billion. For the 2025 project proposals, this combination of Federal allocation and internally generated revenue will be the primary sources of funding.”
Also speaking, Commissioner for Information, Osuoza, said “Exco approved a range of impactful projects that aim to benefit communities across the State. With the two-year anniversary on the horizon, the council emphasised the importance of future-oriented planning.
“Accordingly, all heads of ministries, commissioners, and permanent secretaries have been directed to ensure rigorous oversight of their respective projects,with a strict mandate for high standards. There is absolutely no tolerance for substandard or incomplete work.
“The Council also confirmed key appointments, including the appointment of HRM Dr Greg Oputa as the Obi of Aboh in Ndokwa East Local Government Area; and Prof. Epiphany Azinge (SAN) as the Asagba of Asaba Kingdom in Oshimili South Local government area.”
He added that several infrastructure projects were also approved, covering critical areas including rehabilitation of Ugwhrughelli/Ehidi road and construction of chief Lyn Ivie Akporiche street, Ughelli North LGA and Amechi Aguisi street in Asaba.
“We also approved the construction of Oil Road/old Okpe Road in Jeddo Okpe Local Government. EXCO also approved the construction of Ejeba road extention/Jelink road and the extention/Olomoro road in Isoko South Local Government.”
Commissioner for Works, Rural and Riverine Roads, Aniagwu, disclosed that Exco directed that contractors whose projects had lasted for more than one year without mobilising to site, would be determined.
He said Exco approved several new roads including the reconstruction of Uzere Asaba-Ase Bridge and adjoining Road in Ndokwa East and Isoko South Local Government Areas of the state.
On his part, Commissioner for Riverine Infrastructure, Clark said Exco ratified Oborevwori’s approval for the construction of Model Secondary School in Oporoza and Construction of access road to Nigeria Maritime University Okerenkoko both in Warri South-West Local Government Area of the state.
Clark said: “The Nigerian Maritime University is a Federal institution but the Governor deemed it fit to construct the road connecting the temporary site to the permanent site of the university.”
