Okowa Proposes N27.9bn Supplementary Budget For 2019

The executive Governor of Delta State, Ifeanyi Okowa, has proposed N27.9bn supplementary budget before the State House of Assembly for consideration for the year 2019.
It could be recalled that the 2019 budget was N390 billion.
The Governor revealed this in a letter sent to the leadership of the State House of Assembly and was read by the Speaker of the House, Chief Sheriff Oborevwori on Tuesday at a plenary session.
The Governor noted that it was paramount to review the 2019 budget given the performance and the improvement in revenue generation in the state. Adding that, the adjustment would enable his administration adequately carryout state projects and programmes.
He listed the breakdown of the reviewed budget as follows: N169.7 billion for Recurrent Expenditure and N248.1 billion for Capital Expenditure.
The Majority Leader of the house, Mr Tim Owhefere, moved a motion for the house to receive the letter from the governor and was seconded by Mr. Festus Okoh, representing Ika South.
The House after the unanimous adoption of the motion, went ahead to approve the request of the governor for a loan of N500m.
It could be recalled that the state Executive Council on February 27, 2018 approved that the state should secure N600 million revolving bank guarantee in favour of Lafarge Holding in Africa PLC from a distance class deposit money bank.