The Ogun state governor, Dapo Abiodun, Thursday, presented fiscal appropriation bill of N703.028billion to the House of Assembly with N415.66 billion earmarked as capital expenditure.
With a fiscal appropriation bill of N472.25 billion for the 2023 outgoing year, Abiodun stated that recurrent expenditure stood at N287.37 billion.
The appropriation bill, christened “Budget of sustained growth and development,” also has N95.05 billion as personnel cost, with N105.88 billion earmarked for overhead expenses, just as N59.09 billion is for public debt charge.
“The revenue composition includes Ogun State Internal Revenue Service (OGIRS) with an estimate of N100.81 billion and other Ministries, Departments, and Agencies (MDAs) estimated at N139.73 billion, totaling N240.54 billion.
Abiodun added that capital receipt, which included internal and external loans, as well as grants and aids, were projected at N240.24 billion.
He further stated that infrastructure would gulp N209.122 billion, representing 30 per cent of the budget.
The governor stated that education would gulp N109.219billion, representing 16 per cent; health sector got N81.185 billion, representing 12 per cent while N28.886billion, representing four per cent, was earmarked for housing and community development.
He added that agriculture and industry, would gulp N14.213billion, representing 2 per cent, while N22.872billion, representing three per cent, was earmarked for recreation and culture.