Delta records N152.1bn revenue in 9 months

Delta State government on Tuesday said it recorded a revenue profile of N152,105,003,09 billion between January to September, against expected N252,943,494,429 billion approved revised budget for the 2015 fiscal year.

BusinessDay reports that the revenue performance represented 80.18 percent over expected proportionate revised revenue receipts of N189,707 billion.

Governor Ifeanyi Okowa disclosed this during the presentation of the 2016 budget estimate to the Delta State House of Assembly.

Okowa also disclosed that N141,736 billion was expended during the period under review, saying out of the amount N117,856 billion was spent on recurrent against the projected N122,058 billion representing 96.56 percent, while N23,883 billion was spent on capital expenditure as against the approved N67,163 billion representing 35.30 percent performance.

During the period under review, the state government received the N91,529,898,353 billion representing 89.05 percent from the statutory allocation, including mineral revenue derivation of the expected revised revenue budget of N102,789,502,202 billion for the period, he said.

He explained that N7,177 billion was received from valued added tax as against the expected N8.976 billion, representing 79.96 percent, N31,460 billion from internally generated revenue representing 93.72 percent out of the projected N33,568 billion.

The governor further disclosed that N21,936 billion representing 49.44 percent was received from other capital receipts against the revised proportionate budget of N44,373 billion.

He said the revenue receipts represented an aggregate decreased of N61,395 billion or 28.76 percent against N213,500 billion recorded for the corresponding period of January to September, 2014.

He opined that the statutory allocation was mainly affected with a significant decrease of N53,147 billion or 36.74 percent against N144,677 billion recorded within the same period in 2014, while the internally generated revenue also recorded marginal decrease of N31,460 billion or 3.84 percent against N32,715 billion received for the same period in 2014.