Bayelsa State Governor Douye Diri has presented a N480,993,632,369.00 Appropriation Bill to the House of Assembly for its approval for the 2024 fiscal year.
Presenting the budget tagged: ‘’Budget of Sustainable and Shared Prosperity’’ Diri pointed out that the House of Assembly approved the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper for the state.
He disclosed that the budget estimate aligned with the assumptions of the lawmakers.
According to him his administration was guided by a realistic, implementable and prioritized budget in line with the wishes of critical stakeholders in the state.
While commending the people of the state for endorsing his administration for a second term in office, he assured that the budget is geared towards achieving a collective vision of prosperity.
Diri explained that the 2024 budget proposal is consistent with the assumptions as contained in the 2024-2026 Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, approved by the Assembly.
A sectoral breakdown indicated that the Ministry of Works and Infrastructure got the lion’s share of N141.88bn, followed by Education and Health with N49.88bn, and N26.04bn respectively. Environment got N15.55bn, Agriculture N14.88bn,others include Youths and Sports N7.65bn, Lands and Housing N6.87bn, Power N6.04bn, and Transport N6.42bn.
“In keeping with the priorities and goals of our prosperity agenda, the specific objectives of the 2024 budget include increasing indigenous participation in the ownership and management of businesses. Provide relevant, quality and skilled manpower training facilities in our educational institutions, too mobilize men and resources for a good healthcare delivery system.
“To continue the infrastructural development in the areas of electricity, transportation, and roads (to link up our rural communities , harnessing our tourism potential to galvanize the State’s economy.
“To continue the fight against crime and promote peace and unity in our State.Ensure and promote the Ease of Doing Business and create a conducive environment for private businesses to thrive. To continue to prioritize the welfare of the State Civil Service to derive maximum benefits from the workforce.”
Reviewing the 2023 Budget, the governor said a general analysis of the budget performance as at September 2023, shows that it had achieved an overall performance of 73%, where both the recurrent and capital expenditures got due attention.
He however, regretted that the greatest challenge in the course of implementation of the 2023 budget is the high inflation rate in the country, adding that current reports from the National Bureau of Statistics, NBS indicate that food inflation is about 31.5% while inflation hovers around 27%.
The Speaker of the House of Assembly, Rt Hon Abraham Ngobere assured the governor that the 2024 Appropriation Bill will be passed into law before the end of the year.
Ngobere commended Diri for the Appropriation Bill, noting that the budget reflects the priority areas of the administration in the areas of public infrastructure, education, health and agriculture.
