Bayelsa Governor Budgets 295bn For 2018
The Governor of Bayelsa State, Seriake Dickson has presented a total of 295.2 billion naira as budget estimates for 2018 fiscal year.
Tagged “Budget of Finishing Strong for Development, Stability and Prosperity Part One”, governor Dickson informed members of the State legislature that the amount comprised Personnel Cost of 48 billion naira, which represents 16.3 percent of the budget.
Other components of the budget estimate, Dickson noted, include Overhead Cost of 42.5billion naira, 58.4 billion naira for Consolidated Revenue Fund Charges, while Capital Expenditure was pegged at 146.6 billion naira, which is 50 percent of the proposed budget.
He further explained thus: “Revenue projections for the balanced budget include statutory allocation of 200 billion naira that is about 68 percent, Value Added Tax 8.5 billion naira and Internally Generated Revenue 24 billion naira, while Capital Receipts is put at 62.6 billion naira”.
While giving further breakdown of the budget, Governor Dickson said “the major focus of the 2018 Appropriation Bill would be on the completion of capital projects. Accordingly, 36 billion naira was earmarked for the Ministry of Works and Infrastructure, which is the highest allocation, followed by the Ministry of Education with 22 billion naira”.
According to the Governor, the Ministry of Trade, Industry and Investment; Agriculture and Natural Resources, each got 4 billion naira allocation; Sports Development was to receive an estimated 2.5 billion naira, while 2 billion naira each would go to Information and Tourism Development.
Dickson noted that the ministry of Women Affairs and Local Government Administration would receive 1.2 billion naira each; Finance, Science and Technology were allotted 1billion each, the Justice Ministry 640 million Naira and Mineral Resources 450 million naira.
He thanked the legislators for the support to the executive, which enhanced the vision of his administration to transform the State to investors haven.