AMOSUN PROPOSES N345.42B FOR 2018 FISCAL YEAR
The Ogun State Governor, Senator Ibikunle Amosun has presented the 2018 State Budget proposal of N345.42 billion (about $1billion) to the State House of Assembly, with the assurance that the budget would be implemented in furtherance of the rebuilding mission of his administration.
The budget, entitled “Budget of Accelerated Development”, has N223.72 billion earmarked for capital expenditure, representing 64.77 percent and N121.698 billion earmarked for recurrent expenditure, representing 35.23 percent.
Speaking during the presentation, Amosun said the budget is 57 percent higher than that of last year, adding that this year, the great emphasis laid on capital projects is due to the fact that the administration is building greater momentum into the end of the tenure.
He gave a breakdown of the proposed budget to be allocated among the five cardinal programmes of his administration, as follows: Affordable Qualitative Education, N79.25 billion (22.9 percent); Efficient Healthcare Delivery, N21.20 billion (6.13 percent); Agricultural Production that will lead to Massive Industrialisation, N21.14 billion (6.12 percent).
Others are Affordable Housing and Urban Renewal, N45.73 billion (13.24 percent), Rural and Infrastructural Development and Employment Generation, N73.61 billion (21.31 percent), while N125.93 billion (30.25 peecent), was earmarked for other sectors.
“We have placed great emphasis on capital project, 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. In addition, investing in skills especially for youths and farmers helps to support inclusive growth”, he said.
From the recurrent expenditure, the governor said personnel cost, comprising salaries and allowances, will gulp N13.50 billion, while N39.829 billion will be set aside for overhead costs.
Reviewing the 2017 budget performance, the governor disclosed that his government has implemented the budget by over 70 percent, adding that his administration has developed the state in the areas of security, infrastructure and ease of doing business, amongst others.
In his welcome address, the Speaker, Rt. Hon. Suraju Adekunbi affirmed that the fund appropriated for 2017 was judiciously used on projects which they were meant for.
He said the Legislature was able to confirm this through the oversight function of members to Ministries, Departments and Agencies of government.