Due To Bombings By The Militants / Vandalization Of Pipeline, Delta State Is No longer The No 1 Oil Producing State In Nigeria.

Governor Ifeanyi Okowa of Delta State according to vanguard who was Clad in blue native attire and red cap to match, Okowa gave details of the budget, allocating N152 billion for recurrent expenditure and N119 billion for capital expenditure. The 2017 budget proposal which he christened “budget of fiscal consolidation and steady progress” is slightly higher than the 2016 budget estimate of N268 billion.

“Consequently, we found ourselves in double jeopardy. With receipts from the Federation Account already plummeting, our plight was aggravated as our share from the Derivation Formula reached an all-time low. What our brothers and sisters need to know is that pipeline vandalisation hurts us more than it hurts other parts of the country; accruals to Delta State from the Derivation Formula is a function of how much oil we supply to the national oil company for export.

“Regrettably, the activities of the militants saw us slump from being number two among oil producing States to number four resulting in severe damage to our finances. It is our hope that with the renewed engagement of all stakeholders by the Federal Government, and our willingness and determination to follow through with the peace process, the country and our State will experience a better 2017, devoid of the interruptions and disruptions that characterised the outgoing year.

“Nevertheless, our proposals and expectations for 2017 are grounded in cautious optimism. You will notice that the proposed budget size is marginally higher than the approved budget for 2016 because we are mindful of the current realities. It is incumbent on us as a government to present a budget that is practical, realistic and responsible”.

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