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Delta State government says it generated N127.1 billion revenue between January and September 2017 fiscal year.
The state governor, Ifeanyi Okowa, who made the disclosure during the presentation of the 2018 budget estimates of N298.078 billion to the Delta State House of Assembly, also disclosed that its expenditure stood at N127 billion in the period under review.
Okowa noted that the revenue was generated from the federation account, Internal Generated Revenue and Value Added Tax, as the revenue generation represented a performance of 57.5 percent over the expected proportionate revenue receipts of N220.8 billion for the 2017 fiscal year.
The governor explained that N83.6 billion was received as statutory allocation from the federation account, representing 74.9 percent performance over the proportionate estimates of N111.7 billion, the sum of N8.3 billion amounted to recorded receipts from Value Added Tax out of the proportionate projected estimates of N7.8 billion, representing a budget performance of 106.21 percent for the period under review.
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The governor added that N35 billion was recorded as IGR out of the proportionate projected revenue of N52.6 billion, representing a budget performance of 66.67 percent.
On the expenditure profile, the governor posited that out of the total sum of N127 billion expended, N104.2 billion was spent on recurrent items, as against a proportionate approved budget of N118.5 billion, representing a budget performance of 87.97 percent.
He further added that out of N136.4 billion budgeted for capital expenditure; the N22.7 billion was spent against the proportionate budget figure of N68.2 billion, representing a performance of 33.41 percent.
The governor observed that the expenditure was not, however, a true reflection of the level of jobs accomplished/completed within the comparable period, which stands at about 47.05 percent.
Okowa, who attributed the development to cash flow constrain and weather conditions, however, expressed optimism that funding would improve better in the fourth quarter.
