Bayelsa State Governor, Seriake Dickson has presented a budget estimate of N275.8bn for 2019 to the state House of Assembly.
The proposed financial estimate was against N316.9bn budget for the current fiscal year.
Presenting the budget christened, “Budget of Final Completion”, the governor assured that concentrated efforts would be made to complete most of the ongoing projects before the termination of his administration in February 2020.
Dickson said the 2019 budget proposal consisted of statutory allocation of N233.5bn representing 84% of the total budget and value added tax of N9.7bn or 3.55%.
He noted that other revenue projections comprised internally generated revenue of N16.7bn representing 6.7%, and capital receipts of N15.6bn or 5% of the total budget,
The Special Adviser to the Governor on Media Relations, Fidelis Soriwei, in a statement on Friday quoted Dickson as listing the proposed expenditure as Personnel cost of N47bn (17.1%), overhead cost N49bn or 17.79%, consolidated revenue fund charges N66bn or 23.49%.
Dickson said the capital expenditure was allocated a lion share of N113.5bn representing 41.16%.
He put the performance rate of the 2018 budget at 50% explaining that the government received N153bn out of the budgeted N316bn.
The governor allocated N31bn to the Ministry of Works and Infrastructure followed by Education, N23bn and N6bn for Health.
Also, N4bn each was allocated to the ministries of Agriculture, Natural Resources, Sports Development and Trade and Investment while Housing and Urban Development was allotted N3.5bn.
Others are Transport N2.5 billion, Information N2bn, Water Resources and Science and Technology N1.5bn each while Local Government Administration got N720 million.
Also, Ministry of Culture and Ijaw National Affairs got N700million, Environment N505 million, Labour and Productivity as well as Women and Social Development were allocated N500 million each.
Other components of the 2019 budget include, Public Debt Servicing N35 billion, Deductions for federation account N20 billion, Transfer to 32 rural development authorities N3.5 billion and N514 allotted to the Local Government Pensions Board.
Dickson also said N7bn had been earmarked to create a special fund to address the problem of gratuities of workers which he described as a national challenge.
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