The Delta State government has disclosed that it would get as its share of the federation account the sum of N198.5billion in the 2013.
Giving the state budget breakdown in Asaba, Commissioner for Economic Planning, Mr Kenneth Okpara, added that the amount is N28,513,285,148 or 16.77% more than the N170,000,000,000 budgeted in 2012.
The Commissioner further stated that the sum of N10,100,855,881 or 6.54% was received from the capital revenues against the budget of N154,334,845,082 in the same year
The commissioner explained that N188,454,698,016, was spent from January to September 2012 adding that out of this amount the sum of N124,537,941,057 was spent on recurrent items as against a proportionate approved budget of N135,634,947,825 representing a budget performance of 91.82% .
While affirming the state government’s determination and readiness to improve its internal generated revenue, Mr. Opara posited that an estimated sum of N61, 440,624,172 is being expected from internally generated revenue in 2013 as against the sum of 51, 447,050,501 approved for the 2012 fiscal year adding that the IGR estimates for 2013 was higher than 2012 approved estimates.
On capital expenditure, the commissioner noted that the increase in statutory allocation was informed by higher expectations from oil revenue next year adding that the sum of N126,921,344,146 was proposed as capital receipts/miscellaneous for 2013 adding that the decrease of N78,858,449,296 or 38.32% from N205,779,793,442 approved for the 2012 budget.
He said the decrease was a cautious approach to minimise deficit budgeting (i.e. which is part of the other capital /receipts/miscellaneous) in 2013.
He said that apart from deficit financing, others included in these categories are as follows; grants, counterpart funding contribution from the federal government, return on investment and other incomes like SURE-P.