Bayelsa State Governor, Hon. Seriake Dickson on Fridaypresented a N150<\/p>\n
billion Appropriation Bill tagged Budget of Transition for the 2016 fiscal
\nyear, as against N250bn passed into law in 2015 to the State House of
\nAssembly.<\/p>\n
The recurrent expenditure as presented to the State House of Assembly for
\npassage into law, stands at N43bn and capital expenditure, N25.4bn.<\/p>\n
In his presentation, the governor said the budget would be committed to
\nthe completion of ongoing projects in the state.<\/p>\n
The projected statutory allocation from the Federation Account, according
\nto the governor, is put at N82.3 billion, capital receipts of N51.2
\nbillion, independent revenue sources of N11 billion, which make up the
\nexpected total revenue.<\/p>\n
The recurrent expenditure as presented by the governor, is having the
\nhighest allocation of N43 billion. This would enable the present
\nadministration to keep faith with the payment of workers salaries,
\nregardless of the sharp drop in revenues occasioned by slide in crude oil
\nprices.<\/p>\n
Other expenditure items include, consolidated revenue fund charges N61.8
\nmillion, overhead of N20.2 billion, while capital expenditure was put at
\nN25.4 billion.<\/p>\n
Governor Dickson, who described the provision for capital expenditure for
\nthe current fiscal year as the least he has ever presented throughout his
\nfirst term, however promised to review the allocation in the event of any
\npositive change in the revenues accruing to the state.<\/p>\n
In his sectoral breakdown, On sectoral allocations, the Ministry of Works
\nand Infrastructure got the highest allocation of N5.2 billion, education
\nN4 billion, Health N2 billion, Sports N1 billion, Community development
\nN1.7 billion and Agriculture and natural resources N1.3 billion.<\/p>\n
The Ministry of Tourism Development got N1.1 billion, Transport N1.1
\nbillion, Housing and Urban Development N1.4 billion part of which the
\nGovernor said, would be utilized to build low income residential houses,
\nin partnership with the private sector as land has already been acquired
\nin different parts of the state for that purpose.<\/p>\n
Assessing the performance of the 2015 budget of N250 billion comprising an
\nanticipated statutory allocation of N182 billion, capital receipts of N48
\nbillion, Value Added Tax N8.6 billion, Governor Dickson said, what the
\ngovernment received was a far cry from what was projected.<\/p>\n
According to him, actual statutory allocation for the 9 months ending at
\nSeptember was N146.5 billion, which he noted was 47% lower than what was
\nbudgeted for, VAT N5.3 billion, independent revenue sources N6.2 billion
\nwhile aids and grants amounted to N1.2 billion<\/p>\n","protected":false},"excerpt":{"rendered":"
Bayelsa State Governor, Hon. Seriake Dickson on Fridaypresented a N150 billion Appropriation Bill tagged Budget of Transition for the 2016 fiscal year, as against N250bn passed into law in 2015…<\/p>\n","protected":false},"author":1,"featured_media":45071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-45635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n