The Delta State Government has put forward a proposed budget of N936 billion for the 2025 fiscal year, sparking concerns about the state’s growing debt load, particularly in light of the challenges posed by the volatile exchange rate. Sunny Ekedenyen, the Commissioner for Economic Planning, made this announcement on Tuesday during the budget defence proceedings in Asaba, the state capital.
Ekedenyen pointed out that Delta, like other parts of the country, is grappling with significant economic challenges. He emphasized the importance of citizens adjusting to the new economic realities, as the state navigates through this difficult period.
“This year’s budget defence process will be more engaging than in previous years,” Ekedenyen remarked. He explained that the state is working towards fulfilling the governor’s MORE agenda, and that the outcomes of these discussions would be submitted for potential implementation.
The commissioner also highlighted that the government would adopt a “strict and realistic” approach, ensuring that the proposals align with the governor’s vision for the state. He further acknowledged the harsh economic conditions, saying, “We are facing a double-edged challenge of exchange rate instability and the removal of fuel subsidies, which have made this a particularly tough time for the state.”
Ekedenyen disclosed that Delta’s revenue-to-debt ratio over the past year was 97%, meaning that almost all of the state’s income was used to service its debt. He added that the 2025 budget proposal is based on actual receipts from June 2024 to the present, reflecting the state’s constrained financial situation.
