The Ogun State governor Ibikunle Amosun has presented the 2017 Appropriation Bill of 221 billion Naira, tagged budget of repositioning before the State House of Assembly in Abeokuta, the state capital
Presenting the budget at the floor of the State House of Assembly, the governor said capital expenditure stands at 118 billion Naira representing 53.5% while recurrent expenditure would gulp 102 billion Naira representing 46.5% of the total budget
The governor however used the occasion to give the debt profile of the state which he put at 62 billion Naira
According to him,’ the budget component comprises ‘salaries and allowances 62.73 billion Naira, representing 28.37%, pension and gratuity, 11,2billion Naira representing 5.0%, total personnel costs 73.93 Naira representing 33.43%, overhead cost 28.89 billion Naira representing 13.07% of the total budget while capital expenditure stands at #118.306 representing 53.50% of the budget
Financing the Budget
The governor said the budget proposal would be largely funded with Internally Generated Revenue of about 114.34 representing 51.71%, while revenue from the federation account is expected to account for 41.00 billion Naira representing 18.54% of the budget
Giving a section by section breakdown of the budget, the governor said education sector is expected to take the lion share of the proposal with 47.5 billion Naira representing 21.82% of the budget, healthcare delivery,15.105 billion representing 6.83%, affordable housing and urban renewal 28.574 billion Naira.
‘In the 2017 budget and beyond, our state will focus on the key areas that will support and enhance quality in service delivery through the following ‘strengthening of the schools’ oversight function via data capture, analysis, monitoring, and evaluation, infrastructural development in tertiary institutions, upgrade in vocational and technical education, teachers training and evaluation’ the governor stated
Meanwhile the Speaker of the State House of Assembly, Suraj Adekunbi however promised to give accelerated passage the budget requires for the development of the state in the fiscal year
“We allowed promise to give the proposal the needed express hearing to fast track the development of the critical sectors of the state economy for the good of our people ‘the Speaker concluded
The occasion was witnessed by six past governors of the state, traditional rulers, former head of the interim government, Earnest Shonekan among other dignitaries
