The state Independent Electoral Commission (BSIEC), had earlier presented a bill of N1.5 billion for the conduct of the election to the governor who later reduced it to N800 million.
Ortom, who confirmed the cancellation of the local government election earlier scheduled by the electoral empire to hold on September 3, said there was no money to finance the exercise.
He explained that the 23 local government councils in the state were supposed to provide 60 percent of the money required, while the state would provide 40 percent.
The governor, however, noted that considering the economic downturn facing the state, the councils lacked the capability to do as required.
It was earlier speculated that the governor, at a meeting with stakeholders early this week, agreed to shift the election due to paucity of funds.
Meanwhile, rumour making the round cited fear of protest votes against the All Progressives Congress (APC) government, as a result of non-payment of salaries in the state for some months, as reason for the postponement.