Delta State Governor, Dr. Emmanuel Uduaghan, and his Anambra State counterpart, Mr. Peter Obi, Wednesday, presented a budget proposal of N383.4 billion and N82.5billion, respectively for the 2012 budget fiscal year.

While Delta State’s figure was higher than that of last year’s budget of N361.9 billion with about N21 billion, that of Anambra State represented an increase of 23.24 per cent over the 2011, which was N66.9billion.

Speaking at the presentation ceremony, Uduaghan, who christened the proposals as “Budget of Sustainable Development,” said the major objective was to deepen the administration’s sustainable initiative of reducing poverty and unemployment.

The governor, who said the recurrent expenditure was N168.8 billion, while capital expenditure was N213.6 billion, however, said the state would raise N9.9 billion through Value Added Tax (VAT), just as N151.9 billion would come in as revenue through capital receipts.

Further breakdown showed that the state intends to raise N51.4 billion through Internally Generated Revenue (IGR), while N170 billion would be generated through statutory federal allocation during the fiscal year.

Meanwhile, Obi, in his presentation entitled: “Budget of Integrated Development V”, said the amount was made up of N46.8billion for capital expenditure and N35.6billion for recurrent expenditure.

He noted that the budget was programmed to be a balanced one, except for internal and external grants and loans components of the capital receipts, which accounted for 7.27 per cent of the total budget size.

Obi said the Anambra Integra-ted Development Strategy (ANIDS) remained the pivot on which the administration revolved and was geared towards addressing development problems across all sectors simultaneously.

The budget estimate showed that a total sum of N46.8b was expected from capital receipts in 2012, an increase of 39 per cent over the budgeted sum of N33.691 billion for 2011.

The emphasis of the state government will be on poverty reduction measures with the economic sector having an allocation of 34.22 per cent of the total capital budget. Other sectors are: social sector (29.44 per cent), environmental sector (11.82 per cent), and general administration (24.52 per cent).

The governor said his government was mindful of the need to make its capital budget more realistic and predictable in 2012. Consequently, prioritization of projects and programmes formed the guiding principle in allocation of funds, given the ceilings and envelopes allocated to each sector/sub-sector, based principally on the anticipated resource picture in 2012 and an analysis of the needs/resource requirements of sectors/MDAs.

A breakdown of the budget shows the projected revenue earning for 2012 to be N48billion, with internally generated put at N12 billion or 25.00 per cent, while the state’s share of the Federation Account is estimated as N36 billion or 75.00 per cent, totalling N48b or100.00 per cent.

Delta State 2012 Budget : The bulk of the revenue (75.00 per cent) is expected from the state’s share of Federation Account, while efforts were already being made to narrow the gap between the revenue categories.

For recurrent expenditure, the government expects to increase from the 2011 projection of N33.253 billion to N35.671 billion in the year 2012. This represents an increase of N2.418 billion or 7.27 per cent.

Delta State 2012 Budget .