GOV. Dapo Abiodun of Ogun on Tuesday presented a budget proposal of N449.97billion for the 2020 fiscal year to the State House of Assembly with N269.132 billion earmarked for capital expenditure.
The News Agency of Nigeria (NAN) reports that the budget christened, “Budget to Build our Future Together,” also has N180.842 billion proposed for recurrent expenditure, representing 39.69 per cent.
The governor said that the 2020 budget proposal was based on his government’s resolve to reflect the determination to deliver electoral promises to the optimal level.
He said that an estimated N254.946 billion was projected as internally generated revenue for the state, while statutory allocation was expected to be N43. 431billion.
“Personnel cost will be N109.183 billion, salaries and allowances is N83. 238 billion , while pension and gratuities will be N25.945 billion while overhead costs stands at N71.659billion,” he said.
Abiodun stated that the proposed budget would be funded largely through Internally Generated Revenue (IGR).
The governor said that Infrastructure had the lion share of N107.964 billion, followed by Social wellbeing and welfare, N128.06billion .
According to Abiodun, education will receive N91. 609 billion, youth empowerment N7. 896 billion while N21. 634 billion was earmarked for agriculture and N92. 804 billion would go to other sectors
The governor explained that his administration would reform the machinery of government for good governance and the well-being of the people by focusing on healthcare, housing, environment and physical planning as well as water and waste management.
He said that the present administration in the state would guarantee food security, self-sufficiency and sustainability as well as the adoption of value – chain approach to agriculture through small scale farmers.
“Our administration will also put in place a workable Public Financial Management System that eliminates leakages and ensures efficient and judicious use of our common wealth.
“As a matter of fact, we are currently reviewing the State Debt Management Strategy.
” We equally gave an Executive Order for the establishment of the Fiscal Responsibility Commission for prudent financial management of the state’s resources,” he said.
Abiodun noted that the present administration was committed to creating a better, enduring and prosperous state.
In his speech, Mr Olakunle Oluomo , the Speaker of the state assembly, said the 9th Assembly had passed eight bills and 10 resolutions since its inauguration on June 10.
Oluomo added that the legislature had equally ensured that funds appropriated in the 2019 budget were expended on projects for which they were meant through its oversight functions.
The Speaker said that while the executive arm of government was busy trying to change the face of the state , the legislature was occupied with its constitutional responsibilities of making laws for the good governance of the state.
Oluomo gave an assurance that the assembly would give the necessary attention to the 2020 appropriation bill and ensure its passage within the shortest possible time.
– Dec. 03, 2019 @ 15:39 GMT |