THE Governor of Bayelsa State, Hon. Seriake Dickson has said the 2018 budget of the State suffered a deficit of N153 billion as a result of a shortfall in the revenue that accrued to the state coffers from the federation account.
Dickson stated this while presenting an appropriation bill of over N275 billion to the State House of Assembly for approval and passage for the 2019 fiscal year, in Yenagoa.
According to him, the deficit in the 2018 budget, which has a total sum of N316 billion, adversely affected the pace of work some key projects, especially the three Senatorial District Roads that has been under construction since the creation of the Old Rivers State.
While presenting the 2019 budget on the floor of the House, Dickson who christened the budget as “Budget of Final Completion,” said the budget would focus on finishing and completion of ongoing capital projects.
According to the governor, the budget estimates comprised a capital expenditure of about N47.1 billion.
On sectoral allocations, Dickson announced N31 billion for Ministry of Works and Infrastructure, which got the highest allocation, followed by Education with over N23 billion while health had N6 billion.
Power Ministry was allocated N4 billion, and the Ministry of Information has N2 billion. Others are, Science and Technology, N1.5billion; and Trade, Industry and Investment, N4 billion.
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