The Delta State Government has announced the preparation of a N167 billion supplementary budget for the fiscal year 2022/2023. The budget aims to address pressing economic issues, including the payment of pension arrears for local government retirees and social investments for the well-being of Deltans. Additionally, part of the budget will be allocated towards the construction and rehabilitation of road projects in the state.
ASABA - The Delta State Government has put together a N167 billion supplementary budget for the fiscal year 2022/2023. The budget, which will be presented to the House of Assembly for approval, is expected to tackle pressing economic issues and drive development in the state.
During a press conference after the inaugural State Executive Council meeting of Governor Sheriff Oborevwori's administration, Commissioner for Economic Planning, Mr. Sonny Akporokiamo, provided insights into the budget. He was accompanied by Hon Reuben Izeze, the Commissioner for Works (Higher and Urban Roads), and Chief Press Secretary to the Governor, Mr. Festus Ahon.
According to Mr. Akporokiamo, the supplementary budget seeks to address the payment of pension arrears owed to local government retirees. A sum of N40 billion has been set aside for this purpose, ensuring that these retirees receive the long-overdue payment they deserve. This commitment by the government reflects its dedication to the welfare and well-being of its citizens.
In addition to addressing pension arrears, the Delta State Government has allocated N10 billion for social investment and palliative funds. This fund aims to cushion the effect of unfavorable policies implemented at the Federal level, providing support and relief to Deltans who may be adversely affected by these policies. By doing so, the government hopes to alleviate the financial burden on its citizens and foster economic stability.
Hon Reuben Izeze, the Commissioner for Works (Higher and Urban Roads), emphasized the importance of infrastructure development in the state. Part of the supplementary budget will be allocated to the construction and rehabilitation of road projects. These projects have been approved during the State Executive Council meeting and will considerably improve the state's transportation network, enhancing connectivity and facilitating economic growth.
The Delta State Government's proactive approach in preparing the N167 billion supplementary budget showcases its commitment to promptly addressing economic challenges. As the budget undergoes approval processes, the government remains steadfast in its determination to prioritize the welfare of its residents and invest in crucial development projects.
With the allocation of funds towards pension arrears, social investments, and road projects, the state aims to foster economic growth, uplift the standard of living of its retirees, and provide a supportive environment for its citizens.
Source of content: OOO News 2023-08-31 News
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