Gov Okowa presents N367bn 2019 budget proposal to Delta Assembly
Governor Ifeanyi Okowa of Delta on Wednesday presented a budget estimate of N367.09 billion for the 2019 fiscal year to the State House of Assembly for approval.
Presenting the budget christened, “Budget of Sustainable Growth,” Okowa said it was made up of N157.09 billion and N209.99 billion Recurrent and Capital Expenditures respectively.
The proposed budget is N58.20 billion higher than the 2018 budget of N308.88.
According to the governor, the 2019 recurrent expenditure is higher than that of 2018 by N9.823 billion
“The proposed capital estimate for 2019 is N209 billion is N48.3 billion or 29.9 per cent higher than that of 2018 capital budget of N161.6 billion,” he stated.
He said that in order to achieve the proposed target, government would intensify enforcement of appropriate tax legislation to increase the tax base to N73.4 billion annually.
Okowa said that the budget would be funded through an expected statutory allocation of N217.89 billion, a Value Added Tax, (VAT) of N13.05 billion and other capital receipts of N62.73 billion.
The governor highlighted other sources of funding for the proposed budget to include Internally Generated Revenue (IGR) of N73.4 billion, representing 20.77 per cent of the total projected revenue.
