Governor Dapo Abiodun will on Wednesday next week, present the 2021 Appropriation Bill to the Ogun State House of Assembly for consideration and approval.
The Clerk of the House and Head of Legislative Services, Mr. ‘Deji Adeyemo announced the date in a statement made available to Edu-Biznews in Abeokuta, on Friday.
According to the statement, the budget proposal presentation will hold at the Hallowed Chamber of the Assembly Complex, Oke-Mosan, Abeokuta at 10.00am prompt.
Adeyemo enjoined all invited stakeholders, guests and other government functionaries to be seated in line with COVID-19 protocol by 9.30am prompt.
Edu-Biznews recalled that the governor exactly a year ago on December 3, 2019,presented his administration first budget size of N449.97billion to the house which included capital expenditure of N271.23billion , recurrent expenses of N178.7billion and projected internally Generated Revenue of N254.98billion .
Abiodun later approached the house for a cut in the budget size to reflect the current reality in the economy.
The budget size was then cut by 38 percent,reducing it to N280.9billion in July as a result of sharp dropped in the allocation from the federation account and revenue projection, arising from the effect of COVID-19 pandemic lockdown which paralyzed business activities in the state and economy in the country.
Following the reduction, the capital expenditure of the budget for the outgoing fiscal year is now N148.4billion which is 45per cent cut while the recurrent expenditure is N132.48billion .
Also the projected revenue was reduced to N113.55 billion which is 55 percent cut.
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