According to the governor, the budget tagged, “Budget of Total Rescue and Sustainability”, would place emphasis on projects and programmes with high capacity for wealth creation, skill acquisition and self-employment and overall socio-economic development of the state.
Okorocha said the budget, which projected 57 per cent for capital projects and 43 per cent for recurrent expenditure, was formulated to achieve concrete and formidable dividends of democracy in the areas of completion of ongoing projects and implementation of prioritised projects.
A breakdown of the budget showed that N119, 698,633,849 of the revenue projection was for recurrent items, while N21, 520,500,000 was for capital receipts.
Explaining the slight increase in the recurrent expenditure in the 2015 budget, compared to that of 2014, the governor said it was conceived to improve on the welfare of the people of the state, whom he said had endured hard times in the last three years for the overall good of the state.
A further breakdown of the budget showed N12,263,433,920, personnel costs, N12,010,469,311 subvention costs, while 17,728,500,000 and N18,724,170,603 were for charges (CRFC).
The Speaker, Rt Hon Benjamin Uwajumogu, however, regretted that the budget was presented late but assured of speedy passage.
He charged the ministries and departments to turn up promptly for the budget defense to enable the House conclude all required procedures on time.
SOURCE: THE SUN
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