Mineral Revenue Derivation

Delta State Governor, Ifeanyi Okowa, Tuesday, presented a proposed budget of N378, 184,397,889 for 2021 fiscal year to the State House of Assembly. The budget is made up of N170, 370,000 for recurrent expenditures and N207.5 billion for capital expenditures. Okowa in the more than 50 minutes presentation of the Appreciation Bill at the Hallowed Chamber of the House, said the budget christened “Budget of Recovery” would be funded from four sources. The sources according to the Governor, include Internally Generated Revenue, N65.6 billion, Statutory Allocation including Mineral Revenue Derivation and Excess Crude, N219.9 billion, Value added tax, N17.5 billion and Other Capital Receipts, N17.3 billion. Explaining that the 2021 budget estimates was N96.1 billion increase over the revised budg...