N714.4 billion Budgeted for 2024 in Delta State

The government of Delta State budgeted N714.4 billion for the 2024 fiscal year, this was made known to Newsmen by The state’s Commissioner of Economic Planning Mr. Sunny Edekeyan after the Executive Council meeting in Asaba the State Capital yesterday.
Edekeyan said that the budget estimates included N397 billion for Capital Expenditure, accounting for 56% of the total budget, while N316 billion, constituting 44% of the budget, was for recurrent expenditure.
This postulation was based on the benchmark of the official exchange rate of N750 per dollar
“The budget size is N714.4 billion, broken down into capital and recurrent components of N397 billion capital, representing 56%, while the recurrent component is N316 billion, representing 44%.”

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“The budget was premised on the vision of the present administration and encompassing largely on the activities and programs that will drive the M.O.R.E agenda.” “It is still a proposition because the House of Assembly will still have to look at it and approve it at a later date. However, broadly speaking, it’s a budget that the people will be happy and proud of because a lot of impactful and developmental projects will be embarked upon.” The Commissioner said.
According to Edekeyan, the state plans to procure single – digit loans to fund agriculture and SMEs to curtail inflation.
“We should also expect the government to support the small and medium scale enterprises in the state with some kind of funds to support their businesses, which would be given at single digit interest rate.”
“Looking at other things, agriculture will get a boost, such as rice and food crop production. We are hoping that one of the ways to fight the ravaging inflation is to make food available. So, the agriculture ministry will be on its feet. Like I said, it’s a people’s budget.”The Commissioner said.