He also promised that workers’ salary would now be paid promptly and in full.
By Mercy Obojeghren
Asaba, Jan. 29, 2019 (NNN) The Delta Commissioner for Finance, Mr David Edevbie, has said that the state’s monthly allocation from the Federation Account increased from an average of N7 billion in 2016 and 2017 to N16 billion in 2018.
Edevbie said this on Tuesday in an interview with the News Agency of Nigeria (NNN) in Asaba, pointing out that 2018 was fairly a better year for the state with regards to federal allocation.
He attributed the development to the increase in crude oil prices in the international market and production within the state.
He also spoke on the debt portfolio of the state, saying that borrowings amounted to approximately N114 billion at the end of the third quarter of 2018.
He said, “Of this amount, N77 billion or 67.6 per cent, comprised restructured loans inherited by this administration.”
Edevbie also predicted that the finances of the state for 2019 also looked bright, with the continued improvement in the Federation Account.
“The outlook for finances for the state seems bright as long as the statutory allocation from the Federation Account maintains a consistent upward trend.
“This is based on the optimism that crude oil prices do not dwindle but maintain its average level of $60 per barrel
“In addition, with the strategies put in place to increase our internally generated revenue, there should be a positive growth in the state’s finances.
“Thus, as long as oil production is not interrupted by pipeline bombings, statutory allocation to the state should remain favourable,” he further said.
The commissioner said that the major challenge faced by the government was always how to strike a balance between recurrent and capital expenditure.
He said that between 2015 and 2017, the state was under intense pressure struggling to pay workers’ salaries.
He said that during the period, salaries accounted for the greater percentage of the N7 billion average monthly allocations to the state. (NNN)
( Edited by Abiodun Esan/Sam Oditah)
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.4 per cent and hovered near its four-month high marked on Friday.
Mr David Wuyep, the Commissioner for Water Resources and Energy disclosed this to the News Agency of Nigeria (NNN) on Friday in Jos.
Michael, the Executive Director, Global Initiative for Food Security and Ecosystem Preservation (GIFSEP) gave the advice in an interview with the News Agency of Nigeria (NNN) in Abuja on Friday.
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