Bayelsa State Governor, Douye Diri has presented an appropriation bill of N242.283 billion for the 2020 fiscal year to the state House of Assembly.

Presenting his maiden budget estimate christened, “Consolidation for Prosperity 2020,” Governor Diri says the appropriation bill defines the structure for the economic activities to be undertaken in the fiscal year.

He emphasised that the policy thrust of his administration in the next four years remained consolidating on the gains already made by the previous government.

Wealth creation
The Governor said ”his administration would embark on special programmes and projects aimed at wealth creation.”

Accordingly, he stated that ”his administration would encourage the people to participate in agriculture, small and medium scale enterprises and create opportunities toward attracting the private sector for industrialisation.”

Governor Diri equally highlighted other programmes to include; Infrastructure development, housing and urban renewal, human capital development and public sector and financial management reforms.

COVID-19 effect
On the current economic outlook, the Governor said as a result of the ravaging effect of COVID-19 on the global economy, there was need for prudent management of resources.

He said the price of crude oil had deteriorated drastically as against the Nigerian government’s benchmark pegged at $55 per barrel thus affecting revenue from statutory allocations from the Federation Account.

As part of efforts to reduce the cost of governance and enhance transparency, Governor Diri maintained that the human resources, financial reporting, budgeting and procurement component of the state’s Integrated Financial Management Information System (SIFMIS) would be fully implemented this year.

He assured the people that his administration would continue with the implementation of the Nigerian Government approved minimum wage for workers, adding that the payment of gratuity arrears had already commenced for pensioners.

By Mercy Chukwudiebere