Governor Douye Diri of Bayelsa State, on Thursday, presented a 2025 budget of N689.4 billion, titled the ‘Budget of ASSURED Prosperity’, to the state House of Assembly, outlining his administration’s goals for enhanced socio-economic and infrastructure development.
In his address, Diri said, “Building on the gains and lessons from our first term, we are focused on advancing the state’s socio-economic and infrastructural landscape. We’ve introduced a new mantra, the ‘ASSURED Agenda,’ which outlines seven strategic pillars to drive economic growth, social development, infrastructure improvement, environmental sustainability, cultural preservation, and good governance.”
The budget, he explained, 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.
Additionally, Bayelsa expects 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.
Diri detailed that personnel costs would take N108.34 billion, accounting for 13.3% of total spending, with N91.96 billion for salaries, N19.3 billion for pensions and gratuities, and N3.34 billion for CRFC transfers.
He noted that overheads would consume N79.66 billion, representing 11.55% of the budget, while the total recurrent expenditure stood at N263.38 billion, or 38.2%.
This category covers grants, contributions, subsidies (N9.15 billion), a 10% SUBEB contribution (N2.5 billion), rural development authorities (N4.5 billion), and public debt servicing (N52.95 billion).
Capital expenditure is set at N404.76 billion, with a planning reserve of N21.3 billion, bringing total capital allocation to N426.07 billion or 61.8% of the budget.
Providing a sector-by-sector breakdown, Diri revealed that N178.76 billion is earmarked for Works and Infrastructure, while Education will receive N35.85 billion. Other allocations include Urban and Housing Development (N13.68 billion), Energy and Power (N14.45 billion), Agriculture (N16.65 billion), Security (N19 billion), Healthcare (N19.19 billion), and Community Development (N10.2 billion).
“As a transparent and inclusive government, we have prioritised citizen involvement in our budgeting through stakeholder engagements and interactive public sessions, ensuring that our development goals align with the needs of Bayelsans,” Diri said.
