THE Ogun State governor, Senator Ibikunle Amosun, on Tuesday, proposed a budget of N221.129 billion for the 2017 fiscal year before the State House of Assembly, this appropriation bill is about 10.45 per cent increase from the 2016 budget put at N200.20billion.
Amosun, while presenting the bill at a ceremony attended by the former Head of Interim National Government, Chief Ernest Shonekan, the doyen of Accountancy in Nigeria, Mr Akintola Williams, former military administrators of the state, traditional rulers and other eminent citizens of the state, explained that the recurrent expenditure is N102.82 billion, which represents 46.50 per cent and capital expenditure put at N118.30bn representing 53.50 per cent.
He said that the overall budget performance of the 2016 budget was 56.2 per cent as at 31st October.
The budget tagged ‘Budget of Repositioning’ according to the governor would be drive solely by the Internally Generated Revenue accrued to the coffers of the state, due to the current economic challenges in the country.
He noted that the state, despite the economic challenges, had navigated the trying economic times with relative success far above other states in the country.
In the proposed budget, education, which is the key cardinal programme of this administration, would gulp N47 billion, which represents 21.28 per cent; rural and infrastructural development/employment generation N44.2bn representing 19.99 per cent; housing and urban renewal N28.5bn which represents 12.92 per cent; health N15.1bn represents 6.83 per cent and agricultural production N11.6bn representing 5.25 per cent.
The governor explained that the budget is expected to be funded with the IGR at N114.34bn representing 51.71 per cent and federation account N41bn which represents 18.54 per cent.
He said, “We are convinced that what we have been able to achieve in the past five and a half years will soon pale into insignificance when compared to what is yet to come. We will leave no one in doubt about our genuine intentions to work for the development of our dear State. I strongly believe that God willing, with determination and our collective effort, we shall succeed in the desire to sustain the growth of our dear State.”
The Speaker, Honourable Suraju Adekunbi, said that the legislature would intensify effort towards the passage of bills and resolutions that would provide the legal framework required to facilitate the provision of the needed infrastructural facilities and economic growth that would add more value to the quality of life of the citizens.
He equally promised that the House would give necessary attention to the appropriation bill in the shortest possible time.