At an estimated sum of N267,436,357,912.19, focus of governance in Oyo state in the 2018 fiscal year will be on Sports, Youth Development, Lands and Housing, Culture and Tourism, Solid Minerals Development, Agriculture, Environment, Education.
As presented by Governor Abiola Ajimobi at the state House of Assembly, on Thursday, the 2016 appropriation proposal covers a recurrent expenditure of N118.37 billion and capital expenditure of N149.1 billion.
The proposed sum covers a personnel cost of N39.84billion, overhead of N25.24 billion, Consolidated Revenue Fund Charges of N53.28billion.
A sectoral breakdown shows that N85.39 billion is allocated to the Economic sector followed by Social Services allocated N54.28 billion, while N8.86 billion is set aside for General Administration and N517 million is proposed to be spent on Law and Justice.
Targeted revenue for the 2018 fiscal year covers N112.10 billion as Internally Generated Revenue, N93.68 billion from the federation account and N7.53 billion as Transfers from Local Government and Joint Account Allocation Committee for local government state pension board and local government service commission.
Tagged, “budget of stabilisation”, the proposed 2018 budget sum is a 28.1 percent increase from the approved 2017 budget of N208,654,111,854.
Noting a 46.95 percent budget performance in the 2017 fiscal year, which he attributed to steady decline in fund allocation to the state from the federation account, Ajimobi said the state was more geared towards harnessing all available sources of internal revenue in the state.
Especially, he said the state would from January 2018 be more vigorous in its Internally Generated Revenue drive through the enforcement the payment of tenement rates, payment of taxes by members of the Informal sector, restructuring of government agencies in charge of generating revenue, the commercialization of some sports facilities at the Lekan Salami Sports Complex, Adamasingba, Ibadan which include the Amphi Theatre, Swimming pool, Indoor Sports Hall, Bill-Boards, Car-park among other facilities.
On infrastructure, Ajimobi assured of the 15 months completion of ongoing road projects such as the Mobil/Oluyole / Sharpcorner/Apata/Wema Road, expansion of Oke-Adu/Bus stop to Iwo Road interchange, Dualization of Idi-Ape-Bashorun-Odogbo Barracks; Dualization of Agodi/Gate-Alakia/New Airport roads in Ibadan; Dualization of Saki- Ibaruba Township Road and the rehabilitation of Eleyele-Eruwa Road.
Other projects for 2018 include the rehabilitation of Igboho water supply scheme at a cost of N474,000,000.00, rehabilitation of Owode water supply scheme with proposed contract sum of N200,000,000.00, expansion of Ogbomoso/Ikoyi-Ile water supply.
Meanwhile, Ajimobi reiterated that his administration was intent on conducting local government elections from April 2018, announcing the mandatory ninety-day notice effective January 2018.
Going by the continued defection of opposition party members into the All Progressives Congress (APC), he avowed that the coast was clear for the APC to sweep the polls, when elections are conducted.
On youths’ development, he announced that 3,000 unemployed youths across the State were to benefit from a vocational skills acquisition scheme with the provision of entrepreneurship starter packs.
While saluting workers for their forbearance in view of irregular payment of salaries, Ajimobi said arrangements had been made for the payment of promotion arrears from January 2012 to July 2017.
To address liabilities of pension payment, he said the state from January 2018 would embrace the Contributory Pension scheme.
He allayed fears that the state had accrued huge domestic debt, noting that the state only obtained loans from the World Bank and African Development Bank at low interest rates.
In his remarks, Speaker of the Assembly, Honourable Micheal Adeyemo assured of the speedy passage of the budget, which he noted would improve the socioeconomic life of the citizenry.
Before the budget presentation, member representing Akinyele 1 constituency, Honourable Oyebamiji Joshua announced his defection from Accord to APC.
Oyebamiji hinged his decision on the factionalisation of Accord party and the fact that APC was the party where he would realize his vision for joining politics and fulfil his campaign promises to his constituents.
