The total budget size was jerked up to N267 billion from the initial N265 billion during consideration by members of the state House of Assembly who included N2 billion for the on-going construction work at Asaba Airport.
Tagged budget of ‘Renewed Hope and Inclusive Development’ the breakdown showed a recurrent expenditure of N153,156,852,956.00 and a capital of N114,511,303,218.00
Signing the bill into law at the Government House, Asaba, Okowa thanked the lawmakers for detecting that there was no provision for Asaba Airport, which he admitted, was an oversight on the part of the executive arm of government.
Besides, he lauded the lawmakers for the speedy passage of the budget which was presented to the House on December 9, 2015, adding that the opportunity created by the dry season would afford government to execute projects.
Stressing the need to generate funds to finance the budget, Dr. Okowa explained that taxes were not designed to punish any citizen, noting that payment of taxes “is a civic duty for every citizen.”
He said his administration was targeting an annual IGR of N75 billion as against the N40 billion target in 2015, pointing out that the state can no longer continue to be depending on allocation from the federation account due to crumbling crude oil prices.
“The target (IGR) is achievable because we are going to plug all loopholes and ensure that more people come into the tax net. I urge every commissioner to stay on top while implementing the budget in the various ministries, while I continue to implore members of the House to carry out their oversight role,” he said.
Presenting the budget earlier, Speaker of the House, Mr. Monday Igbuya who was accompanied by the Clerk of the House and other principal officers informed the governor that budget was passed on January 12, 2016.
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