24 November 2012

Nigeria: Uduaghan Presents N398.310 Billion 2013 Budget

Delta State Governor, Emmanuel EwetaUduaghan, yesterday presented a budget of N398.310 billion for 2013 fiscal year to the House of Assembly.

The budget tagged "Delta beyond oil" has a capital expenditure of N252.370 billion or 63.3 per cent and N14.94 billion or 6.64 per cent to drive home the processof reaching beyond oiland focus on other areas for sustainable development.

According to him, sources of funds, especially the internallygenerated revenue IGR, will be targeted at N61.44 billion or 15.34 percent while statutory allocation will attract N198.5billion or N49.84 percent and the value added tax will N11.44billion with N2.87 percent.

He said the state government is resolved to partner with local governments with a view to driving home increased revenue for sustainable target in the state.

He further explained that the state government has outlined strategies toreduce domestic borrowing, even as he disclosed that his administration is committed and accountable.

He said: "A team of economic advisers have been put in place to revive all the ailing industries in the state in the last five years as a means of boosting economic development of Delta Beyond Oil".

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