Senator Ibikunle Amosun, the governor of Ogun State has presented a budget estimate of N402.63Bn as the 2019 Appropriation Bill to the State House of Assembly, representing 17% increase compared to the previous year budget size of N345.4Bn.
Giving a breakdown of the estimate christened, ‘Budget of Enduring Legacy’, Amosun explained that the sum of N254.005Bn would go for capital expenditure representing 63.1%, while Personnel Cost which consisted of Pension and Gratuities would take N22.20Bn, just as salaries and allowances put at N74.43bn. He disclosed that the recurrent expenditure would gulp N148.57bn representing 36.90% and overhead cost fixed at N41.447 giving 10.29%.
Disclosing the sources of financing the budget proposal, the Governor said that N161.24Bn representing 40% would be sourced through internally generated revenue, as N42Bn was being expected from the Federation Account, while the sum of N101.38Bn was being expected from capital receipts, with other receipts providing N80Bn representing 19.80% of the total funding.
On the sectorial breakdown of the estimate, the Governor said that the affordable qualitative education programmes would get the lion share of N88.57Bn, representing 22%, with a sum of N22.54Bn allocated to the Health sector, while N20.13Bn was being earmarked for various agricultural production/industrialisation programmes. He added that the sum of N53.14Bn was meant to cater for affordable housing and urban renewal, with rural and infrastructural development/ employment generation given N82.53bn, just as other sectors would share N135.68Bn.
Earlier in his opening remarks, Speaker Suraju Adekunbi stated that 8th Legislature under his leadership had within the year, passed a total of 21 bills, while 18 others were under various legislative processes, with fifty motions passed into Resolutions. He explained that the Assembly equally carried out its annual oversight function with a view to ensuring the judicious use of fund and get value for money in line with the Appropriation Act.
Adekunbi, who stated that the Assembly had been conducting its legislative activities peacefully without rancor despite the heterogeneous nature of political party representations, attributed the development and progress recorded in all sectors of the State economy to the existing symbiotic relationship between the three arms of government.
Pledging the Assembly’s continued corporation for the realization of the yearnings and aspirations of the people, the Speaker called for the speedy implementation of the legislative and judiciary autonomy acts to further strengthen democratic practice in the gateway State, which he noted had set enviable standard in the comity of States in the country.
In his closing remarks, Speaker Adekunbi reassured that members of the 8th Legislature would continue to partner with other arms of government through the speedy passage of people oriented legislations for the implementation of new projects and completion of other on-going infrastructural facilities across the State to add value to the quality of lives of the people.
The Speaker also reiterated his colleague-lawmakers’ support to the passage of bills and resolutions that would further facilitate the provision of the required policies and legal frameworks required by the government to enhance the provision of more infrastructural facilities and other necessities for improved quality of life for all the residents of the State.
In attendance at the presentation were former Military Administrators in the State, foremost Accountant, Chief Akintola Williams, Senator Iyabo Anisulowo, Member, Federal House of Representatives, Abdul-Kabir Akinlade, Akarigbo and Paramount Ruler of Remo Land, Oba (Dr) Babatunde Adewale Ajayi, Olu and Paramount Ruler of Yewaland, Oba Kehinde Olugbenle, Chief (Mrs) Tokunbo Awolowo-Dosunmu and Rev (Mrs) Tola Oyediran amongst others.
Packaged by Hazeez Ayansola
