The Ogun State Government has proposed the sum of 210.354 billion naira for the 2015 fiscal year, which is slightly above the current 2014 appropriation of 210.28 billion naira.
The Ogun State Governor, Ibikunle Amosun, said that the budget tagged ‘Budget of Continuity’, would be geared towards completion of ongoing capital projects across the state, while new ones are being proposed.
Under the new budget, recurrent expenditure is expected to gulp 92.09 billion naira representing 43.78% of the total budget, while capital expenditure is 118.26 billion naira representing 56.22% of the appropriation bill.
Giving the success story of the 2014 budget, which he put at 68.34% , the Governor said that the budget proposal was informed by macro economic outlook driven by global oil prices which has placed financial burden on government at all level.
The budget is expected to focus on the five cardinal programmes of the administration in the areas of agriculture, health care delivery, education, rural and urban development and is expected to be greatly financed by Internally Generated Revenue put at 99.35 billion naira, representing 47.23% of the total budget.
Receiving the budget proposal, the Speaker of the State House of Assembly, Suraj Adekunbi, promised the readiness of the lawmakers to give it an accelerated passage it deserves, for the good of the people.
