The Ogun State Government has proposed
to spend the sum of N345.42 billion in the next fiscal year.
The State Governor, Ibikunle Amosun who
made this known while presenting the State’s budget proposal tagged ‘’Budget of
Accelerated Development’’ on the floor of the State House of Assembly on Tuesday
said that the proposed appropriation bill which was 57 percent higher than the
current year’s budget was a reflection of his administration’s
determination to deliver on its electoral promises.
He gave assuring that all on-going
projects in the State would be completed before the expiration of his tenure.
Amosun, giving a breakdown of the budget
proposal, disclosed that recurrent expenditure would gulp N121.698bn which
represents 35.2 per cent, while N223.721bn, which is 64.77 per cent would be
expended on capital projects.
He added that a sum of N68.369billion
representing 19.79% of the total recurrent expenditure would be for salaries and
allowances, N13.50billion, which is 3.90% would be spent on pension and
gratuities, while overhead cost would gulp N39.829 billion representing
11.53per cent.
On source of financing, the Governor
revealed that the proposed budget would be funded through N149.258 billion,
representing 43.21 per cent is expected to be generated internally, N48 billion
amounting to 13.9 per cent will be from the Federation account, N98.160 billion
which is 28.42 per cent is expected from capital receipts, while the balance of
N50 billion, representing 14.48 per cent is to be made from other receipts.
He explained further, that in
continuation of his administration’s commitment to providing affordable,
qualitative education and moving closer to UNESCO’s recommended 26 per cent,
the education sector got the lion share of N79.246b representing 22.9 per cent,
the health sector got N21.199b representing 6.13 per cent, just as efforts on
agricultural production/industrialisation was allocated N21.137b which is 6.12
per cent of the total budget.
Amosun stated that a sum of N45.733bn
representing 13.24% would be spent on affordable housing and urban renewal,
rural and infrastructural development/employment generation was allocated
N73.606bn representing 21.31 per cent, while N125.933bn or 30.25 per cent was
set aside for other sectors.
Justifying the huge capital
expenditure of the proposed budget, the Governor said that this is being done
to enable his administration accelerate all its developmental plans by
continuously developing all infrastructure that would support industrialization
through agricultural development.
He said: ‘’We have placed great
emphasis on capital projects in order to accelerate the development of our dear
State, we must continue to develop infrastructure that supports industry,
improve road connectivity within our agricultural areas as well as between our
agricultural belts and urban markets”.
The Governor,
while reviewing the 2017 budget performance, disclosed that his government had
implemented the budget to a tune of over 70 per cent and had developed the
state in the areas of security, infrastructure and ease of doing business
amongst others.
Earlier in his
welcome address, the Speaker, Rt. Hon. Suraj Adekunbi said the Assembly has
been able to pass 9 bills so far in 2017.
Adekunbi
appreciated the Governor for his moral and financial support to the
legislature, while he clamoured for the continuation of a cordial relationship
that had always existed between the three arms of government in the State.
Dignitaries at the
event include the Head of Interim Government in Nigeria, Chief Ernest Sonekan,
Former Governors, the Deputy Governor, Chief (Mrs) Yetunde Onanuga, Secretary
to the State Government, Barr. Taiwo Adeoluwa, Chief of Staff to the Governor, Chief
Tolu Odebiyi, former Speakers, present and retired Heads of Service, elder
statesmen, Royal fathers and members of the State Executive Council among
others.
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