Bayelsa Atmosphere Governor, Douye Diri, on Thursday offered a 2025 funds of N689.4 billion, titled the “Budget of ASSURED Prosperity,” to the Atmosphere Area of Meeting, outlining his management’s objectives for enhanced socio-economic and infrastructure building.
In his deal with, Diri stated, “Building on the gains and lessons from our first term, we are focused on advancing the state’s socio-economic and infrastructural landscape. We’ve introduced a new mantra, the ‘ASSURED Agenda,’ which outlines seven strategic pillars to drive economic growth, social development, infrastructure improvement, environmental sustainability, cultural preservation, and good governance.”
The funds, he defined, could be funded via diverse streams, together with a gap steadiness of N14.2 billion, statutory allocations of N17 billion, VAT estimated at N57 billion, and 13% derivation and refunds amounting to N138.8 billion.
Moreover, Bayelsa expects N29.1 billion from huge crude refunds, N103.1 billion from trade positive factors, N39 billion from internally generated income, N39.4 billion in grants, and N141.4 billion from capital receipts, together with digital cash transfers, signature bonuses, money cries, and loans.
Diri graphic that team of workers prices would rush N108.34 billion, accounting for 13.3% of overall spending, with N91.96 billion for salaries, N19.3 billion for pensions and gratuities, and N3.34 billion for CRFC transfers.
He famous that overheads would eat N79.66 billion, representing 11.55% of the funds, year the whole recurrent expenditure stood at N263.38 billion, or 38.2%.
This section covers grants, contributions, subsidies (N9.15 billion), a ten% SUBEB contribution (N2.5 billion), rural building government (N4.5 billion), and family debt servicing (N52.95 billion).
Capital expenditure is about at N404.76 billion, with a making plans keep of N21.3 billion, bringing overall capital allocation to N426.07 billion or 61.8% of the funds.
Offering a sector-by-sector breakdown, Diri discoverable that N178.76 billion is earmarked for Works and Infrastructure, year Training will obtain N35.85 billion. Alternative allocations come with City and Housing Building (N13.68 billion), Power and Energy (N14.45 billion), Agriculture (N16.65 billion), Safety (N19 billion), Healthcare (N19.19 billion), and Public Building (N10.2 billion).
“As a transparent and inclusive government, we have prioritised citizen involvement in our budgeting through stakeholder engagements and interactive public sessions, ensuring that our development goals align with the needs of Bayelsans,” Diri stated.