By Peter Moses
Abeokuta
Ogun state Governor, Senator Ibikunle Amosun, yesterday presented N345.42 billion 2018 Budget proposal to the state legislature for its approval with education sector topping the budget size with N79 billion allocation.
Presenting the 2018 Appropriation Bill at the House of Assembly chambers, Oke Mosan, Abeokuta, yesterday, Amosun told legislators that the new budget represents 57 per cent increase compare to 2017 budget size of N221.09 billion.
The bill tagged “Budget of Accelerated Development,” according to him, would reflect on his administration resolve to achieve its campaign promises by embarking on new projects and fast-tracking completion of the ongoing ones.
He added that budget when passed into law would place emphasis on infrastructure development to enhance economic growth in the state.
Breakdown of the budget size shows N223.721 billion allocated to capital expenditure, N121 billion for recurrent expenditure, N81.869 billion for total personal cost, N68.369 billion for salaries and allowances, N13.50 billion for pension and gratuity and N39.829 billion for overhead cost.
Giving a sectoral breaking down, Amosun said N79.246 billion was allocated to the education sector, health N21.99 billion, agriculture N21.137 billion, housing and urban renewal N45.733 billion, rural and infrastructure development N73 billion.
Amosun explained the appropriation would be financed with the monthly allocation from the federal government, Internally Generated Revenue (IGR) and Capital Receipts.
“Ogun state is on the threshold of a new chapter in its development and we increased our budget size by 57 % as a reflection of our confidence in what lies ahead. Ogun state has an important role to play in the unfolding story of Nigeria’s economic diversification and we must not be found wanting. We have a collective responsibility to ensure the success of this budget for the benefit of the good people of Ogun state and for our nation as a whole,” he said.
In his address, the Speaker, Hon. Suraj Adekunbi, said the legislature is committed to passage of laws and resolutions that will continue to facilitate policies and to enhance the provision of more infrastructural facilities for improved quality of life for Ogun residents.
He disclosed that the assembly in the outgoing year had passed nine bills into and eight motions into resolution, while oversight functions were carried out across the state.
