Bayelsa State Governor, Douye Diri, on Thursday introduced a 2025 funds of N689.4 billion, titled the “Finances of ASSURED Prosperity,” to the State Home of Meeting, outlining his administration’s targets for enhanced socio-economic and infrastructure growth.
In his tackle, Diri stated, “Constructing on the beneficial properties and classes from our first time period, we’re targeted on advancing the state’s socio-economic and infrastructural panorama. We’ve launched a brand new mantra, the ‘ASSURED Agenda,’ which outlines seven strategic pillars to drive financial development, social growth, infrastructure enchancment, environmental sustainability, cultural preservation, and good governance.”
The funds, he defined, could be funded by numerous streams, together with a gap stability of N14.2 billion, statutory allocations of N17 billion, VAT estimated at N57 billion, and 13% derivation and refunds amounting to N138.8 billion.
Moreover, Bayelsa expects N29.1 billion from extra crude refunds, N103.1 billion from change beneficial properties, N39 billion from internally generated income, N39.4 billion in grants, and N141.4 billion from capital receipts, together with digital cash transfers, signature bonuses, money calls, and loans.
Diri detailed that personnel prices would take N108.34 billion, accounting for 13.3% of complete spending, with N91.96 billion for salaries, N19.3 billion for pensions and gratuities, and N3.34 billion for CRFC transfers.
He famous that overheads would devour N79.66 billion, representing 11.55% of the funds, whereas the whole recurrent expenditure stood at N263.38 billion, or 38.2%.
This class covers grants, contributions, subsidies (N9.15 billion), a ten% SUBEB contribution (N2.5 billion), rural growth authorities (N4.5 billion), and public debt servicing (N52.95 billion).
Capital expenditure is about at N404.76 billion, with a planning reserve of N21.3 billion, bringing complete capital allocation to N426.07 billion or 61.8% of the funds.
Offering a sector-by-sector breakdown, Diri revealed that N178.76 billion is earmarked for Works and Infrastructure, whereas Training will obtain N35.85 billion. Different allocations embody City and Housing Growth (N13.68 billion), Vitality and Energy (N14.45 billion), Agriculture (N16.65 billion), Safety (N19 billion), Healthcare (N19.19 billion), and Group Growth (N10.2 billion).
“As a clear and inclusive authorities, now we have prioritised citizen involvement in our budgeting by stakeholder engagements and interactive public periods, making certain that our growth targets align with the wants of Bayelsans,” Diri stated.