The Bayelsa State House of Assembly has approved the N242.283BN 2020 budget presented by the Governor, Sen. Douye Diri 24hours after presentation.
NAIJA LIVE TV reported Tuesday that, Two months after he took office, Bayelsa State Governor, Senator Douye Diri, on Tuesday, presented an appropriation bill of N242.283 billion for the 2020 fiscal year to the state House of Assembly.
READ ALSO: Bayelsa Gov. Douye Diri Presents N242.3bn 2020 Appropriation Bill two months after inauguration
The Stare House of Assembly yesterday, passed the state Appropriation Bill of N242 billion for the 2020 fiscal year.
The passage of the bill followed the adoption of the report of the House Committee on Finance and Appropriation during plenary in Yenagoa, the Bayelsa capital By the Majority Leader, Monday Obolo, representing Southern Ijaw Constituency 2
Presenting his maiden budget estimate christened, “Consolidation for Prosperity 2020,” Senator Diri said the appropriation bill defines the structure for the economic activities to be undertaken in the fiscal year.
BREAK DOWN OF THE 2020 PROPOSED BUDGET TAGGED: CONSOLIDATION FOR PROSPERITY 2020
TOTAL SUM: N242.283BN
EXPENDITURE PROFILE OF THE BUDGET
A. PERSONNEL COST STAND AT N51.646BN
B. OVER-HEAD COST STAND AT N52.327N
C. CONSOLIDATED REVENUE FUND CHARGES STAND AT N91.478BN
D. CAPITAL EXPENDITURE STAND AT N46.736BN
THE BUDGET IS TO BE FUNDED BY A PROJECTED TOTAL REVENUE OF N202.505BN
WITH A DEFICIT OF ABOUT N39.774BN
KEY SECTORS / AREAS OF EMPHASIS
*PERSONNEL COST = N51.646BN WHICH IS 21.32% OF THE TOTAL BUDGET
*AGRICULTURE = N8BN
*POWER AND WATER = N800M
*WORKS AND TRANSPORT = N8.6BN
*HOUSING AND URBAN DEVELOPMENT = N640M
*TRADE INDUSTRY AND INVESTMENT = 439M
*EDUCATION = N2.1BN
*HEALTH = N1.75BN
*SPORTS N580M
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