Governor Ifeanyi Okowa of Delta State on Thursday presented the 2022 Appropriation Bill to the state House of Assembly for consideration and possible passage.
The bill has N469,495,968,075.00 as budget estimates for the coming year.
Breakdown of the proposal showed that N185,357,692,561 is a recurrent expenditure, while capital expenditure is expected to gulp N284,138,275,514.00.
Christened ‘Budget of Inclusive Growth and Accelerated Development’, the 2022 proposal is higher than the approved 2021 budget of N383,954,597,888.83 with N85,541,370,185.
Addressing the lawmakers, Okowa said the increment was based on anticipated exchange rate gains, increase in Value Added Tax (VAT) collection and other capital receipts.
The governor said the budget would be funded with an opening balance from 2021, statutory allocation, 13% mineral fund, taxes and non-tax revenue and grants and domestic credit.
According to the governor, the 2022 budget ‘is geared at ensuring that government is as effective as possible, doing more with fewer resources.
‘We are on a mission to achieve a growth trajectory that will produce the desired outcomes for our communities, youths, the poor and vulnerable by ensuring that our social interventions programmes are well-targeted.
‘The 2022 budget proposals set a clear path for fiscal consolidation, recovery, growth and economic opportunity for all.’
Governor Okowa said he would carefully pursue a prudent policy stance that would entrench efficient spending, curb waste, engender inclusivity, and enable excellent service delivery, saying that the 2022 budget is the last that would be fully implemented by his administration.
‘Notwithstanding the present climate of uncertainty, we are steadfast in our resolve to put the economy on the sustainable path to realise its full growth potential.
‘In short, we shall leave no stone unturned as we seek to build a strong, vibrant, and resilient economy undergirded by good governance and people-centric programmes,’ he said.
He expressed conviction that a ‘Stronger Delta’ was emerging ‘where political leaders have a sense of obligation to the electorate, where public servants live up to the true meaning of their calling, where citizens are encouraged and assisted to participate in the policy formulation and decision-making process for the greater good of all, and where MSMEs are the backbone of the economy.’