Dickson budgets N299.2b for 2014

Governor Seriake Dickson of Bayelsa State on Tuesday presented an Appropriation Bill of N299.2 billion budget for the 2014 fiscal year to the House of Assembly.
Tagged: “Budget of Further Consolidation,” Dickson said N162.5 billion was earmarked for recurrent expenditure, while N136.7 billion was set aside for capital votes.
The 2014 budget was N4.85 billion lower than the 2013 figure of N304.05 billion.
Dickson said the budget would be financed from a revenue projection of N282.6 billion and capital receipts of N16.5 billion.
He said the revenue profile consists of Statutory Allocation, N262.7 billion; Value Added Tax, N7.8 billion; Internal Generated Revenue, N12.2 billion; and Capital Receipts, N26.7 billion.
He said personnel cost would gulp N39.billion; overhead cost, N51.5 billion; Consolidated Revenue Charges, N58.8 billion; Human Capital Development, N13.3 billion; and Capital expenditure, N146.7 billion.
Dickson said the budget was aimed at completing all the infrastructure projects embarked upon and stimulating agricultural and industrial production-driven by private sector.
In his sectoral analyses, Works and Infrastructure had the lion share of N40.01 billion; Agriculture sector, N6.98 billion; and Education sector with N26.9 billion.
Others are: Health, N7.5 billion; Public Utilities, N7.7 billion; Sports Development, N4.1 billion; Social Development and Women Empowerment, N1.6 billion; and Information and Communications, N2.1 billion.
The others include Trade and Industry, N1.2 billion; Tourism, N2.34 billion; Transport, N3.7 billion; Housing and Urban Development, N2.5 billion; and the Ministry of State Capital Development, N2.96 billion.
On budget implementation and monitoring of projects, Dickson said that in compliance with the National Chart of Accounts, Ministries Department and Agencies were required to adhere strictly with approved budget provisions in 2014 financial year.
He said: “The Ministry of Budget and Economic Planning through the state Budget Office is hereby directed to ensure the realisation of this lofty target.
“I demand quarterly reports in this regard.
“In addition, the Due Process Bureau and the Directorate of Project Monitoring must work in concert to ensure that all the projects slated for completion are completed on schedule.”
The Speaker, Hon. Benson Konbowei, said the legislature would ensure a prompt passage of the budget.