Bayelsa State Governor, Senator Douye Diri last Thursday presented an audacious N689.4 billion budget proposal for the 2025 fiscal year to the State House of Assembly. An increase of N209 billion, representing about 43.5% from the N480bn, which he presented on November 29, 2023, for the 2024 fiscal year. Although members of the assembly later jerked it up by adding N8.450 billion which Diri eventually signed into law on December 28.
The 2025 budget, as presented, gave the Ministry of Works and Infrastructure the lion share of N178.7 billion as expected. While N47.1 billion was allocated for Education and N37.8 billion for Sports. Others were urban and Housing Development, N13.6 billion; Energy and Power, N14.4 billion; Agriculture, N16.6 billion; security, N19 billion; health, N19.1 billion; and Community Development, N10.2 billion, among others.
Titled “Budget of ASSURED Prosperity”, Diri said it would be funded through various streams, including an opening balance of N14.2 billion, statutory allocations of N17 billion, VAT estimated at N57 billion, and 13% derivation and refunds amounting to N138.8 billion. Additional sources include N29.1 billion from excess crude refunds, N103.1 billion from exchange gains, N39 billion from internally generated revenue, N39.4 billion in grants, and N141.4 billion from capital receipts, including electronic money transfers, signature bonuses, cash calls, and loans.
The 2025 budget will be Diri’s second in the second term of his administration. While he boasted that the 2024 budget had performed well by over 70% as of the third quarter of the year despite the challenges, many people will not agree with him. This can be attributed to the available records indicating the somewhat slow funding of some key ministries. For instance, the Ministry of Power with an allocation of over N6bn is yet to receive up to N2bn, which is less than 30%.
Also, critics of the governor have faulted his statement that across nearly all sectors, his government has made a significant impact. This claim is being debated in view of the reality on the ground. Some sectors are not performing as Bayelsans expect. The Ministry of Agriculture, for example, is still struggling to utilize the state’s potential to provide food security and sufficiency for the people.
There is also the disturbing allocation of millions and billions of naira for burials, special day celebrations, conferences, summits, and other social events. These bizarre allocations should not be prioritized above other more important things. More so, for a state that is rated as the second most multi-dimensionally poor and most fiscally insolvent state in the country.
While the Bayelsa governor must be commended for pursuing a massive infrastructural developmental agenda, taking into account the three senatorial roads, concerns about human capacity development, power and agriculture are some of the areas that there are shortfalls with little impact. These critical areas need urgent attention, especially for the local economy of the state to flourish.
The government needs to focus on creating empowerment opportunities for the youths. The concentration on the government as the only “industry” needs to be discouraged. There are young people who are into entrepreneurship, they need to be supported with grants and interest-free loans. The government also needs to target quick win projects to empower people financially. It is another way to put money in the hands of the citizens and stimulate the local economy.
With the refocused attention of the government using the ASSURED pillar agenda, it is the hope of the people that the 2025 budget will perform better than that of the 2024 budget. To achieve this, Governor Diri needs to be more circumspect. A lot depends on his leadership and political will to do the needful to rescue the state from its economic backwardness. Those in his cabinet who cannot meet up with his vision to transform the state Should be shown the way out. There should be no room for laxity. Monies were spent to build their capacities at a recent retreat in Uyo, Akwa Ibom State. They have also been given brand new SUVs. So, there is no excuse for them to under-perform.
We also urge the governor to build strategic partnerships and viable economic linkages to attract investors to the state. He should scale up his pursuit of building a robust, internally generated revenue for the state. All of these he can do!
