Governor Uduaghan budgets $2.7 billion for 2013

GOVERNOR UDUAGHAN PRESENTS 2013 BUDGET TO Speaker

Governor of Nigeria’s oil rich Delta state, Dr. Emmanuel Uduaghan has presented a budget of N398.31 billion, about $2.7 billion for the 2013 fiscal year to the state House of Assembly for consideration and passage.

The budget is N38.9 billion lower than the N437.21 billion for this year.

It is is made up of recurrent expenditure of N145.94 billion, representing 36.6 percent, while capital expenditure takes N252.37 billion representing 63.36 percent.

According to Dr. Uduaghan, the State intends to raise N61.4 billion (15.43 percent) through internally generated revenue, as against the N51.4 billion proposed for 2012, while N198.5 billion (49.84 percent) would be generated as statutory allocation as against the N170 proposed for 2012.

The state also hope to raise N11.4 billion (2.87 percent) through value added tax which is higher than the 2012 proposal of N9.9 billion just as N126.9 billion (31.86 percent) would be sourced through capital receipts as against the N151.9 billion proposed for the preceding year.


The governor said the main objective of the 2013 budget was to sustain the state beyond oil resources, noting that more emphasis would be placed on completion of on-going projects that would sustain the economy outside oil revenue, adding that the proposals reflected the collective determination of his administration to address the challenges of creating jobs, ensuring peace and security, reducing poverty, building infrastructure and growing our economy.

“The budget sets us on a path that will neither be easy as uncontested-hard work and difficult choices lie ahead. We have embarked on the long walk to economic freedom, we have put our hands on the plough and we would not relent, we must finish strong,” he vowed.

Uduaghan explained that the reality to build the state beyond oil was becoming “more evident by the day. In the past few months, our oil revenue receipt has dwindled drastically resulting in adopting stiffer financial measures.

“With the support of this Honourable House of Assembly, government is determined to pursue deliberate policies and programs of far reaching fiscal consolidation to reduce our deficit and domestic borrowing to more manageable levels.

“We have introduced measures to actualize these policies and programs in 2013 fiscal year, both in the area of improved revenue collection, recurrent expenditure reduction and increasing the share of capital expenditure to aggregate spending in contrast with trend of the past years.

“To do otherwise, we would risk a sudden loss of confidence in our budgeting. Instead, we reinforce today our commitment to fiscal responsibility, not just this year, but in the years ahead,” he stated.