Governor Seriake Dickson of Bayelsa State has presented a total of N295.2 billion as the budget estimates for the year 2018, as against N221 billion in the outgoing fiscal year.
Presenting the appropriation bill tagged, “Budget of Finishing Strong for Development, Stability and Prosperity” part one to the State House of Assembly, Governor Dickson said the amount comprised personnel cost of N48 billion, representing 16.27% of the budget.
The Chief Press Secretary to the Governor, Mr Francis Agbo in press statement explained that other components of the budget estimate include, Overhead Cost of N42.5 billion, representing 14 per cent, Consolidated Revenue Fund Charges of N58.4 billion while capital expenditure was put at N146.6 billion representing 50 per cent of the budget estimate.
The revenue projections for the balanced budget include statutory allocation of N200 billion representing 67.75 per cent, Value Added Tax N8.5 billion, internally generated revenue N24 billion, while capital receipts were put at N62.6 billion.
Giving a breakdown of the sectoral allocations, Dickson said the major focus of the 2018 appropriation bill estimate would be on the completion of capital projects.
Accordingly, N36 billion was earmarked for the Ministry of Works and Infrastructure, which is the highest allocation, followed by the Ministry of Education with N22 billion.
The Ministry of Budget and Economic Planning was allotted N13 billion, Housing and Urban Development N10 billion, Health N8.5 billion, Power N6.5.
Dickson also announced N4 billion each for Ministry of Trade, Industry and Investment, as well as Agriculture and Natural Resources, Sports Development N2.5 billion while Information and Tourism Development were earmarked N2 billion each.
He also announced N2 billion for the Ministry of Youth Development, Lands and Survey N1.5 billion, Community Development and Chieftaincy Affairs N2.5 billion, Special Projects N1.5 billion, Special Duties Ministry, in charge of the three senatorial districts were allocated N1.2 billion, Water Resources N1.4 billion, Culture and Ijaw National Affairs N1 billion.
Also, Women Affairs and Local Government Administration were earmarked N1.2 billion each; Finance, Science and Technology were allotted N1 billion each; Justice Ministry N640 million; Mineral Resources N450 million and the State Physical and Urban Planning Board N400 million.
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