From Ochei Matthew, Asaba
Delta state Governor, Ifeanyi Okowa, has presented a N270.910 billion budget estimate for the 2017 fiscal year to the Delta State House of Assembly
Given the break down yesterday, the governor said that the amount comprised the sum of one N151.909 billion representing 56.07% for recurrent expenditure while N119.001billion representing 43.93% is for the capital expenditure.
The governor, who tagged the budget as “fiscal consolidation and steady progress”, noted that the Payee Tax receipts from oil companies and oil servicing companies were the major source of internally generated revenue (IGR) base of the state government, lamenting that the activities of the Niger Delta militants have continued to impact negatively on the state IGR.
According the him, an economy that is diversified is better positioned to cope with the type of external shock that the state is currently experiencing.
Governor Okowa stressed that it has become imperative for the state to explore other untapped source to shore up its internal revenue base to enable his administration achieve its developmental aspirations.
“We are currently reviewing the existing rates, fees, charges and levies in the state, as well as streamlined revenue collection in order to plug leakages and ensure a more efficient tax collection and administration,” the governor said.
The budget is expected to be funded, according to the governor, by IGR of over N70 billion and the statutory allocation to the tune of over N148 billion.
The 2017 budget proposal shows a slight increase of N2.731 billion representing 1.02% compared to the 2016 approved budget of N268.179 billion.
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