Ogun State Governor, Prince Dapo Abiodun on Tuesday presented the 2020 Appropriation Bill to the State House of Assembly.
The Governor presented the proposed budget, tagged, “Budget to Build Our Future Together” at the State House of Assembly Complex in Oke-Mosan, Abeokuta, the State capital.
The proposed budget has an increment of N49.674 billion as against 400.3billion of 2019 budget.
Governor Abiodun while giving the breakdown of the propsed budget, disclosed that Capital expenditure will gulp N269,132 billion representing 60percent while Recurrent Expenditure stood at N180, 842 billion which is 39.69percent.
He added that, N83.238billion (18percent) would be spent on salaries and allowances while pension and gratuities would gulp N25.945billion (6percent).
The Governor noted that, N71.659billion which accounts for 16percent was set aside for the overhead cost.
He maintained that, his administration’s five cardinal programmes would immensely benefited from the budget.
Social Welfare and Wellbeing got the highest share of N128.067billion representing 28percent of the total budget while Infrastructure got N107.964billion representing 24percent.
According to the Governor, Education got N91.609billion representing 20percent, Agriculture N21.634 of 5percent while others N92.804billion representing 21percent.
Governor Abiodun said 67percent of the budget would be funded by Internally Generated Revenue (IGR) of N264.964billion and Statutory Allocation of N43.431billion.
The Governor seized the opportunity of the budget presentation to intimate the lawmakers of his achievements in the last six months in office, saying “We have been able to demonstrate our commitment to the continued socio-economic development of our dear State, particularly in Education, Health, Infrastructure and other key sectors that have direct and positive impact on our people.”
Governor Abiodun who solicited for the support and cooperation of the Assembly, said his administration would employ an action plan for prudent financial management.
The Speaker of the Assembly, Rt. Hon. Olakunle Oluomo while responding to the Governor’s presentation, assured that the House would give necessary attention to the Appropriation Bill and ensure its passage within shortest possible time.
Oluomo revealed that the 9th Assembly had so far passed eight bills and 10 resolutions, disclosing that the House had ensured proper monitoring of finances allocated to the 2019 budget.
He insisted that the House would not support the Hate Speech Bill at the National Assembly, arguing that it would gag the media as well as silence the masses.
Oluomo said the House had been able to maintain cordial and peaceful relationship with the Executive Arm of government and pledged more support.
See graphic breakdown of the budget as obtained by NEWS FLAKES NG;