Governor Dapo Abiodun has presented an Appropriation Bill of N339 billion for the 2021 fiscal year to the Ogun State House of Assembly for consideration and approval.
The budget estimate christened "Budget of Recovery and Sustainability" is to be largely financed by the projected Internally Generated Revenue of N119billion and capital receipt of N142billion (external loan including grant and aid) while depending less on the statutory allocation from the federation account put at N59billion .
The governor presenting the budget estimate before the house during its plenary on Wednesday in Abeokuta, said N177billion was allocated for capital projects and N162billion for recurrent expenditure including over head cost of N50billion .
Abiodun explained that the main thrust of the project would focus on completion of several ongoing projects inherited from the Amosun administration as well as new projects across the state.
"Mr.Speaker, Honourable members, permit me to reiterate that main thrust of our capital spending programme in 2021 is the completion of many on going projects and new projects as possible across the state.Accordingly we have priotized projects that can rapidly be completed to benefit our people.'", the governor assured .
According to Abiodun, the lion share of N106billion in the proposed budget will be on general public servicing including the legislature, judiciary and payment of pension and outstanding gratuities of retirees.
The Economic Affairs gets N75Billion, Education N58billion, Health N35billion, Housing and Amenities N28billion, Agriculture N15billion, Public order and Safety N9billion, Recreation, Culture and Religion N7biillion, Youth Empowerment N6billion while Social and Environmental Protection was given the least allocation of N5billion.
The governor stressed the need for effective implementation of the proposed budget, by striking a balance between capital and recurrent expenditure ,so to ensure that the budget has direct impact on the lives of the people in the state.
He said attention would be on capital expenditure on critical infrastructure capable of boosting the revenue drive of the administration while serious effort would be made to identify and block revenue leakages .
"The Investment focus of this administration is to create an enabling environment for business to thrive, reduce the identified infrastructure gap as well as provide stimulus. The budget is focused on completing the projects with revenue potential, projects that can enhance employment generation"he stated.
Speaker of the house, Right Honourable Olakunle Oluomo while responding to the budget presentation, described the budget as a clear demonstration of vibrancy of the Abiodun administration, saying "the people of Ogun State deserve nothing less than an innovative leadership as the head of the Executive arm, a fearless judiciary and a vibrant and articulate legislature".
He assured that the house would ensure passage of laws and resolutions that would facilitate the provision of the needed infrastructural facilities while pledging to give the required attention to the Appropriation Bill within the shortest possible time.
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