Governor Ifeanyi Okowa of Delta State, on Thursday, presented a N270.91 billion 2017 budget to the state House of Assembly for consideration.
Presenting the budget, tagged: `”Budget of Fiscal Consolidation and Steady Progress,’’ Okowa said that N151.9 billion was earmarked for recurrent expenditure while N119 billion was for capital expenditure.
According to the News Agency of Nigeria (NAN), the governor noted that the 2017 appropriation showed a slight increase of N2.7 billion over the 2016 approved budget of N268.1 billion.
Governor Okowa said that the main sources of the budget included the Internally Generated Revenue (IGR), statutory allocation, Value Added Tax and other capital receipts.
He explained that the state was projecting N70.1 billion as IGR in 2017, adding that the amount was lower than the 2016 budget by N5.2 billion.
Meanwhile, as part of efforts to ensure a more organised city, Governor Okowa, has performed the ground-breaking for a multi-million Naira ultra-modern mechanic village in Asaba.
Performing the ground-breaking ceremony on Thursday, he assured the people of the state of his commitment towards ensuring better and organised cities in the state through partnership with private investors.