Delta State Commissioner for Economic Planning, Dr. Barry Gbe, has said the increase of the 2021 appropriation bill by N5.5 billion was necessitated by the need to increase the budgetary provision for ongoing projects in the state.
The commissioner stated this at a press briefing on the breakdown analysis of the 2021 budget estimates, Wednesday.
Reviewing the 2020 budget performance, the commissioner said as part of the measure adopted by the government to respond to the corona virus pandemic in the state, the 2020 budget was amended in order to respond appropriately to the situation that prevailed.
“The government during the nine months between January and September, 2020, recorded a total revenue of N190, 308,961,283 out of the proportionate revenue of N211,748,922,289, which translates to 89.87 percent.
According to him, the fiscal assumptions underpinning the 2021 budget included, benchmark oil price of 40 US dollars per barrel, daily oil production estimate of 1.86 barrel, exchange rate of N379 per US dollars, GDP growth projection at 3.0 percent and inflation closing at 11.95 percent.
Speaking, the state Commissioner for information, Mr. Charles Aniagwu, stressed that the legislature remains the final arbiter on budget process, after the executive under the supervision of the governor, had submitted the budget estimates.
Also speaking, the state’s Finance Commissioner, Mr. Fidelis Tilije, said the state’s debt profile now stands at N207 billion.
According to Tilije, the state can still borrow up to 40 percent ratio of its debt profile, noting that the current debt ratio is 8.03 percent.
