Governor Ibikunle Amosun, on Wednesday, presented budgetary proposal of N402.633 billion (Four hundred and two billion, six hundred and thirty three million naira) christened “Budget of Enduring Legacy,” to the Ogun State House of Assembly for the 2019 fiscal year.
Amosun, accompanied by members of his cabinet and other top political office holders, including the All Progressives Congress (APC) Chairman, Chief Derin Adebiyi, and traditional rulers, did the budget estimates presentation at the sitting of the House of Assembly presided over by the Speaker, Rt. Hon. Suraj Adekunbi.
He said that the proposed budget was consistent with the Mission to Rebuild Agenda of the state and how it will serve to position Ogun State for its next growth trajectory.
“Mr. Speaker, Honourable Members, the 2019 budget has been appropriately titled“Budget of Enduring Legacy”,to reflect our determination to deliver on our electoral promises to the optimal level, even as our tenure wraps up. We therefore propose a Budget size of N402.63 billion which represents an increase of 17% compared with the 2018 budget”
“Our Expenditure consists of Capital Expenditure of N254.055 billion or 63.10% and Recurrent Expenditure of N148.577 billion. Personnel Cost, made up of Salaries and Allowances stands at N74.43 billion while Pension and Gratuities accounts for N22.2 billion which is 22.97% of total Recurrent Expenditure and 5.51% of Total Expenditure.
The balance of N44.447 billion which accounts for 10.29 billion is set aside for the Overhead Costs,” Amosun said, adding that his administration had taken important strides with respect to growing revenues and directing it towards expanding the economic base of the state.
While giving a breakdown of the budget, he said it would be allocated to the five cardinal programmes of his administration in the following ratio: Affordable Qualitative Education to take N88.579 billion (22%), Efficient Healthcare Delivery, N22.547 billion (5.60%), Agricultural Production that will lead to massive Industrialisation to gulp N20.131 billion (5%).
Others, according to the governor include Affordable Housing and Urban Renewal, taking N53.147 billion (13.2%), Rural and Infrastructural Development and Employment Generation, N82.539 billion (20.5%), with other sectors budgeted to gulp the remaining N135.687 (33.7%)
On government’s plan to finance the budget, he said N161.24 billion will be from Internally Generated Revenue, N42 billion from the Federal allocation purse, N101.388 billion from capital receipts and N80 billion from other receipts.
While reviewing the 2018 budget performance, the Ogun State helmsman disclosed that his government had attracted almost 700 companies, developed the state in the areas of security, infrastructure, and ease of doing business amongst others.
He said his administration had begun to intensify efforts towards the completion of all ongoing projects in the state within the six months remaining of his government, highlighting some of the projects to include the new Ogere International market, 250 bedded Modern Hospital, Digital Ogun State Television Studio, Ultramodern Judicial Complex, Central Business District known as City Centre, flyovers and road constructions spread across the state.
“We will construct 150km rural roads, strengthen the support already given to the security agencies, provide mini power grid for communities that have shown interest, continue to extend necessary support to our local government areas for their successes, and we will be showcasing all our cultural and human giants in the state”.
Earlier in his welcome address, Speaker Adekunmbi said the Assembly had been able to conduct its legislative business till date without rancour or disharmony amongst members, despite the heterogeneous nature of political party representation, adding that the Assembly in the outgoing year has been able to pass 21 bills.
The speaker while thanking the governor for his unprecedented moral and financial support to the legislature, appealed to the governor to consider the implementation of the Autonomy Act for the legislative and judicial arms of government, to further strengthen democracy, assuring that the House will work on the quick passage of the appropriation bill.
*Education: N88.579 billion (22%),
*Healthcare Delivery: N22.547 billion (5.60%),
*Agriculture: N20.131 billion (5%)
*Housing and Urban Renewal: N5.147 billion (13.2%),
*Rural and Infrastructural Development and Employment Generation: N82.539 billion (20.5%),
*Others: N135.687 (33.7%)