By Jessica Tamaraduoye, Asaba

The Delta State governor, Emmanuel Uduaghan, on Wednesday presented a budget of N327.68 billion for 2015 to the State House of Assembly..

While capital project will gulp N166.06 or 50 .68 per cent of the budget, recurrent expenditure is estimated at N161.6 billion, representing 49.32 per cent.

Presenting the budget to the House, the governor said it would be funded through statutory allocations, internally generated revenue, Value Added Tax, VAT, and other capital receipts.

The 2015 budget estimate is N123.05 billion less than the 2014 figure and the governor explained that the reduction was informed by the reality of falling price of crude oil in the international market.

“This amount comprises N161,606,428,928 (one hundred and sixty one billion, six hundred and six million, four hundred and twenty-eight thousand, nine hundred and twenty-eight naira) or 49.32 per cent for Recurrent Expenditure and N166,076,553,989 (one hundred and sixty billion, seventy six million, five hundred and fifty-three thousand, nine hundred and eighty-nine naira) or 50.68 per cent for capital expenditure,” Uduaghan said while presenting the 2015 estimates.

A breakdown of the budget indicates that N68.53 billion of the recurrent estimates will go to personnel costs, overhead costs will take N51.33 billion, while N41.69 billion has been set aside for consolidated revenue charges.

The governor stated that the 2015 budget was aimed at consolidating the gains achieved in 2014, adding that there would be a focus on completing on-going capital projects instead of starting new ones.

“The 2015 budget is driven by the successes recorded in various sectors of the State’s economy in the past seven years up to the 2014 Budget of Consolidation, Sustainable Economic Growth and Development as the 2015 budget is aimed at consolidating the achievement of 2014 budget as well as completing all on-going projects and programmes that will facilitate the fulfilment of the administration’s goal of making Delta State one of the most industrialized and developed States in Nigeria by 2020,” Uduaghan said.

“Priority is given to the completion of on-going projects in the areas of rural and urban road network and infrastructure, security of life and property (including logistics support for law enforcement), healthcare and education,” he said further.