ABEOKUTA – Governor Ibikunle Amosun of Ogun on Wednesday presented to the state House of Assembly a budget of N420.6billion for 2019.
The budget titled, “Budget of Enduring Legacy’’, Amosun said the figure represents an increase of 17 per cent over the N345.4billion budgeted for 2018.
He said that the proposal was made up of N254.055 billion capital expenditure, representing 63.1 per cent and recurrent expenditure of N148.5 billion, representing 36.9 per cent.
The governor explained that the 2019 proposal was based on his administration’s resolve to deliver its campaign promises despite the fact that the administration was wrapping up.
Amosun said that the state projected N221.244billion as revenue from both the Federal Allocation and Internally Generated Revenue (IGR) sources during the year, representing 54.97per cent .
“Personnel cost made up of salaries and allowances stands at N96.630billion while pension and gratuities will be N22.200 billion which is 5.51 per cent of total recurrent expenditure.
“The balance of N41.447billion which accounts for 10.29 per cent is set aside for the overhead cost,’’ he said.
Amosun said the budget would be funded largely through IGR.
The governor said that the Education sector had the lion share of N88.579billion, followed by Rural and Infrastructure Development/Employment Generation sector, N82.539billion.
Amosun said that affordable housing and urban renewal would gulp N53.147 billion, health care delivery, N22.547billion and agricultural production/industrialisation, N20.131billion.
This administration has taken important strides with respect to growing revenue and directing it towards expanding the economic base of the state.
” In 2019, we will invest heavily in school infrastructure, upgrading primary and secondary schools across the state with the support of SUBEB.
“In Agriculture, our focus in 2019 will be to consolidate on our achievements in the promotion of selected key value chain through state governments intervention and support from world bank supported interventions,” he said.
In his remark, the Speaker, Mr Suraj Adekunbi, said the Assembly would pay all necessary attention to the budget and pass it as soon as possible.
Adekunbi said that the legislative arm of government had been collaborating with the executive in advancing the socio-economic development of the state.
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.