Governor Senator Douye Diri has unveiled a staggering N689.440 billion budget proposal for the 2025 fiscal year. Dubbed the "Budget of ASSURED Prosperity," this ambitious plan promises to enhance the state’s infrastructure, education, and overall quality of life for its residents.
Presenting the proposal to the State House of Assembly on Thursday, Diri emphasized that the success of this budget hinges on the efficient execution and collaboration among the various Ministries, Departments, and Agencies (MDAs). “The implementation of the 2025 budget will require a concerted effort and synergy in our governmental activities,” he stated, underscoring the importance of fiscal and monetary policy coordination to achieve desired outcomes.
Diri’s breakdown of the projected revenues paints a detailed picture of the state’s financial landscape. The budget includes a statutory allocation of N17 billion, with additional funds from value-added tax (N57 billion), a 13% derivation including refunds (N138.8 billion), and a refund on excess crude (N29.062 billion). Notably, exchange gains are expected to contribute N103.073 billion, while internally generated revenue is projected at N39 billion, alongside grants of N39.4 billion. Other capital receipts, such as electronic money transfers and loans, are estimated at N141.4 billion, culminating in a total revenue of N689,440,348,916.30.
The expenditure outline reveals a balanced approach to budgeting. Personnel costs will amount to N91.961 billion, with pensions and gratuities—including contributory pensions—accounting for N19.324 billion. This brings the total personnel expenditure to N108.338 billion, representing 13.3% of the budget. The total recurrent expenditure is set at N263.375 billion (38.2%), while a substantial N426.065 billion (61.8%) is earmarked for capital projects.
Among the recipients of significant allocations, the Ministry of Works and Infrastructure leads with N178.761 billion, followed by education at N47.111 billion and sports at N37.850 billion, which includes plans for a new stadium. The health sector will receive N19.994 billion, while security and agriculture are allotted N19 billion and N16 billion, respectively.
Governor Diri elaborated on the ambitious infrastructure projects set to be funded, including key road constructions such as the Nembe-Brass and Yenagoa-Oporoma-Ukubie roads, which aim to enhance connectivity across the local government areas. “We are committed to our promise of connecting all local government headquarters by road,” he assured, highlighting ongoing developments like the Angiama-Oporoma bridge, which is already over 50% complete.
In education, Diri emphasized the government's commitment to boosting technical and vocational training, moving away from a sole focus on academic qualifications. “We are building more technical colleges in local government areas to equip our youth with practical skills,” he noted. Additionally, the governor confirmed that the Niger Delta University’s new 10,000-seat convocation arena is under construction.
The governor also reiterated the administration's focus on worker welfare, announcing an approved new minimum wage of N80,000 effective November 1, 2024. He revealed that N7 billion has been allocated for outstanding gratuities, alongside increased monthly pensions for retirees.
In response, Speaker of the Assembly, Rt. Hon. Abraham Ingobere, commended the governor for his transparency and prompt budget presentation. “We will thoroughly scrutinize this budget to ensure it meets the needs of our constituents and is passed swiftly,” he pledged, expressing confidence in Diri’s leadership and the equitable distribution of resources across the state.
