Bayelsa State Governor, Seriake Dickson, has presented a budget estimate of N275.8bn to the state House of Assembly for deliberation and approval for the 2019 fiscal year.
The proposed budget is N41.1bn less than the N316.9bn budgeted for 2018.
Presenting the budget tagged “Budget of Final Completion” to the lawmakers, the governor assured that concerted efforts would be made to complete most of the ongoing projects before his administration comes to an end in February 2020.
Dickson said the 2019 budget proposal consists of statutory allocation of N233.5bn representing 84 per cent of the total budget and value added tax of N9.7bn or 3.5 per cent.
He noted that other revenue projections comprised of internally generated revenue of N16.7bn representing 6.7 per cent, and capital receipts of N15.6bn or five per cent of the total budget.
The governor listed the proposed expenditure to include personnel cost of N47bn (17.1 per cent), overhead cost N49bn or 17.79 per cent, and consolidated revenue fund charges of N66bn or 23.49 per cent.
Dickson, who said the capital expenditure was allocated a lion share of N113.5bn representing 41.16 per cent, put the performance rate of the 2018 budget at 50 per cent.
According to him, the government received N153bn out of the budgeted N316bn.
