Okowa sends N66bn supplementary budget to Assembly

Delta’s Gov. Ifeanyi Okowa has sent a N66 billion 2021 supplementary budget to the House of Assembly for approval.

His request was read at plenary in Asaba on Tuesday by the Speaker, Chief Sherriff Oborevwori.

According to the governor’s request, N15.72 billion will be for Recurrent Expenditure, while N50.65 billion will be spent on Capital Expenditure.

Okowa explained that the request was occasioned by the need to offset mounting arrears of unpaid certificates of contractors handling projects in the state.

“Permit me to mention that in the course of implementing the 2021 budget, a performance review was carried out for eight months.”

“The review between January and August revealed that the actual revenue received for the period against the budget estimate was less than the proposed receipts.”

“The shortfall in the revenue estimate is as a result of drop in cash flows and remittances into the Federation Account by the Nigerian National Petroleum Corporation.”

“It was also revealed that first line deduction to service loan obligations of states and other multiplier effects of the Coronavirus pandemic on the economy altered the fiscal plans of the Federal Government.”

“By extension, the state government’s revenue was negatively affected,” Okowa stated in the request.

The Majority Leader of the Assembly, Mr Ferguson Onwo, moved a motion for the approval of the governor’s request.

The motion was unanimously adopted by the lawmakers, after it was seconded by the member representing, Uvwie Constituency, Mr Solomon Ighrakpata.

The lawmakers fixed Wednesday for the second reading of the request.