The Minister of Planning and Budget, Atiku Bagudu has disclosed that the federal government is proposing a national budget of N26 trillion for the year 2024.
TheNewsGuru.com (TNG) reports Bagudu disclosed the N26 trillion year 2024 budget following the federal executive council (FEC) meeting held on Monday at the presidential villa, Abuja.
According to the Minister, the 2024 budget proposal would be submitted to the National Assembly (NASS) before December 31.
Details shortly…
The Delta State Government has earmarked the sum of N714 billion for the 2024 fiscal year.
The State Commissioner for Economic Planning, Mr Sonny Ekedayen, disclosed this in Asaba on Friday during the 2024 budget defence meeting by Ministries, Departments and Agencies (MDAs).
Ekedayen also said that out of the estimated N714 billion, the sum of N393 billion would be for Capital Expenditure, while the remaining sum would go for Recurrent Expenditure and others expenses.
On the performance of the 2023 budget, the commissioner gave it a 70 per cent rating, explaining that it was an election year.
He also said that the state government had stepped up its Internally Generated Revenue (IGR) from N95 billion last year to N105 billion in 2023.
Ekedayen noted that the focus of the 2024 Budget would be on quality projects that would have direct impact on the lives of the people of the state, adding that it would hinge on fiscal discipline.
He, therefore, urged MDAs to align with the policy of the state government, to choose projects carefully that could be executed and finished on time and not just littering everywhere with unfinished or poorly-executed projects.
“We will live within our means by taking into account cost effectiveness, efficiency, impactful delivery and I urge MDAs to present budgets aimed at advancing meaningful developments, opportunities for all, realistic reforms and enhanced peace and security (MORE) Agenda of the governor,” he said.
Ekedayen further said that the state government would also, in the 2024 Budget, look at areas and sectors that would drive the state economy and make the living standard of the people a little better than what it was before.
The Commissioner informed MDAs that the Ministry of Economic Planning would explore the use of monitoring and evaluation on all ongoing government projects in the state.
The Delta Government says it plans to partner with relevant stakeholders to ensure that the 2024 budget is anchored on fiscal discipline, in line with its MORE agenda.
Mr Sonny Ekedayen, the state’s Commissioner for Economic Planning, stated this at an interractive with stakeholders on Friday in Asaba.
Ekedayen said the budget would be hinged on the principles of Gov. Sheriff Oborevwori’s”MORE agenda”, anchored on fiscal discipline.
“The strategy of the state in 2024 budget will be fiscal discipline and this will be hinged on the principles of open governance where interaction between government and the people will be sustained.
”The budget will therefore be structured in a manner that will reflect and work to achieving this vision.
”We believe that this approach will enable us to promote transparency, accountability and effective delivery of services to our citizens,” he said.
Ekedayen commended the participants for their outputs, saying that the state would work closely with them in order to promote citizens’ participation in budgeting and development planning processes.
”We are aware that achieving our objectives will require the support of your collaboration of all stakeholders.
”We recognise the critical role that CSOs and community leaders play in governance, and we are committed to strengthening our partnership with them.
”We also acknowledge that CSOs and community leaders are critical in ensuring that the voices of the marginalised and the more vulnerable groups are heard.
”We will, therefore, be working closely with them to ensure that they are actively engaged in the governance processes. This is the more reason that today’s engagement is essentially interactive.
”We therefore urge you to partner with us in the implementation of these measures and to provide feedback on their effectiveness,” he said.
Ekedayen also reiterated the government’s commitment in promoting sustainable growth, reduction of poverty as well as promoting inclusiveness in the state.
”The broad focus that the 2024 budget will strive to achieve will be tailored towards: environmental sustainability, human capital development and infrastructural development.
”We will also focus on increasing revenue mobilisation through implementation of tax reforms and promotion of non-tax revenue sources.
”We will also strengthen our public financial management systems to ensure transparency and accountability in the use of public resources,” he added.
On performance of the 2023 budget, the commissioner said that N571.2 billion was originally budgeted for the year.
”Owing to the exigencies of the early part of the year, a supplementary budget of N71.2 billion was approved in the month of May, bringing it to a revised budget figure of N642.8 billion.
”This was essentially to cater for end of tenure priorities of the previous administration.
”Following economic realities and inflows available to government, especially with the removal of the fuel subsidy, the 2023 budget was further amended to N809.3 billion,” he said.
On his part, the second Vice-President of Delta Traditional Council, the Obi of Ubulu-Unor, Mr Obi Henry Kikachukwu commended the government for the engagement, assuring of the council ‘s partnership.
“We have always been partners in this great project,” he said.