Delta state government has proposed N459.2 billion as an indicative budget figure for 2023.
The state commissioner for Economic Planning, Dr Barry Gbe disclosed this on Monday, during a press briefing at the conference hall of the Ministry.
He said the figure was arrived at based on the state’s government adoption of the micro-economic framework set by the Federal Government for the 2023 fiscal year.
He explained that the figure was a global size estimate and it is subject to approval by the State Executive Council before it could be forwarded to the State Assembly.
He said, “the budget circle starts with going to the Executive Council with what we call a global figure or indicative figure, if it is approved we then return to the ministries and do a revaluation. Inflation, exchange rate, GDP and economic happenings around the world are discussed and the budget is returned to the State Executive Council for approval and then taken to the State Assembly.”
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The Commissioner further stated that the state government would not embark on any new project unless it is specially approved by the state governor, adding that the 2023 budget would focus on the completion of ongoing projects and debt servicing.
“For capital projects, we will not take any new projects but will try to complete existing ones. Only things we can finance and that fall within the policy trust of the administration would be done”, he stated.
Speaking further, he disclosed that the state government may submit a supplementary budget to the State Assembly to capture over N150 billion projected as extra cost for projects already awarded under the 2022 budget.
He said, “Due to inflation and exchange rates, prices of things have gone up and the contractors are requesting for upward review of contracts. Such request will be rolled over to the 2023 budget or we may go for a supplementary budget. Although I cannot give you an exact figure because we are still receiving memos from contractors, we are projecting N150 billion for project reviews.”
