Gov.Abiodun Presents Over N703.03bn Budget For 2024 To Ogun Assembly - EDU-BIZNEWS


Thursday, November 30, 2023

Gov.Abiodun Presents Over N703.03bn Budget For 2024 To Ogun Assembly


Governor Dapo Abiodun has presented a total of N703,028,013,431.64 as the Year 2024 Appropriation Bill to Ogun State House of Assembly including capital expenditure of N415.66billion and recurrent expenditure of N287.37billion  

Governor Abiodun presenting the proposed budget christened, “Budget of Sustained Growth and Development”, on Thursday during plenary session in Abeokuta, explained that N95.05bn was earnmarked for personnel costs, while  consolidated revenue stood at N27.35bn, 

He put public debt charge  at N59.09bn and overhead cost at N105.88bn for the next fiscal year.  

Abiodun giving further breakdown of the budgetary allocation, revealed  that 16% of the total budget amounting to N109.21bn would be expended on Education, 12% resulting into N81.18bn was set aside on health, housing and community development gulps N28.88bn resulting into 4%

He added that N14.21bn representing 2% of the budget was set-aside  for agriculture and industry while  30% amounting to N209.1bn was set aside for infrastructure, 3% on recreation and culture, with 4% on social protection. 

 General Public Service- executive organ according to him, allotted 4%, and General public service - financial & fiscal affairs allocated 5%. 

Others he noted included General public service - general personnel service put at 0.3%, public order & safety allotted 2%, likewise economic affairs given 0.4%, just as Judiciary and Legislature were allocated 1% and 2% respectively with statewide put at 15%.

According to him, "the budget is expected to sustain our administration's quest for shared prosperity through the ISEYA mantra. Our objective is to create an enabling environment for businesses and industries to thrive through friendly policies and provision of infrastructure; collaboration, fiscal prudence, and quality service delivery; expanding the revenue base in the area of internally generated revenue, and to also ensure timely completion of on-going developmental projects through equitable and effective distribution and allocation of available resources.

"Our principal objective in 2024 is to maintain and enlarge our economic base, while being strategic toward harnessing economic opportunities in the outer years of our administration", the Governor stated.

He added that State would continue to accord priority attention to the completion of all ongoing projects across the ISEYA Development pillars; projects with revenue potentials and those that could enhance employment generation, likewise those consistent with priorities articulated in the State Economic Development Plan & Strategy 2021 – 2025.

The Governor explained that increasing focus would be on projects that align with the seven thematic areas contained in the Medium-Term National Development Plan 2021-2025 including: economic growth and development; infrastructure; public administration inclusive of governance, security and international relations; human capital development; social development; regional development; plan implementation, communication and financing as well as monitoring and evaluation

Earlier, Governor Abiodun had led the State lawmakers and other dignitaries to observe a minute silence in honour of the late Director of Finance and Accounts, Office of the Governor, Mr. Taiwo Oyekanmi, who was gruesomely murdered in line of duty, describing him as a dedicated and upright official who performed his duties with utmost diligence. The Governor therefore directed that the National flag be flown at half-mast in the State for a period of one week in honour of the deceased. 

Earlier in his opening remarks, the Assembly Speaker, Rt. Hon. Olakunle Oluomo, lauded the lofty developmental projects and policies of the present administration since inception of office, while disclosing that the 10th Assembly had so far passed four bills into law, with five others under consideration,  adding that 12 motions were also passed into resolutions alongside the Assembly’s quasi-judicial functions. He added that the bills and resolutions so far passed have impacted positively on all sectors of the State economy.

Positing that the State Assembly had continue to conduct its legislative business without rancour despite the heterogeneous nature of the political representation of the lawmakers, the Assembly remained committed to promoting harmonious relationship with other arms of government. The Speaker expressed optimism that the pressing needs of the State legislature would be on the front burner in the implementation of the 2024 budget when passed into law and assented by the Governor.

According to him, the needs of the State legislature included the implementation of constitutional provisions on financial autonomy for the Assembly and the Judiciary, full implementation of the provisions of the State House of Assembly Service Commission Law, 2018 and the Statutory Offices Emoluments (Amendment) Law amongst others, which would further contribute to the efficiency of the legislature being the fulcrum of democracy.

He explained that the implementation of financial autonomy for the State legislature would further aid its operation in line with its constitutional roles with other arms of government as partners in progress in the Building our Future Together Agenda of the present administration. 

In his closing remarks, Speaker Oluomo assured that the lawmakers would ensure a scrutiny of the proposed budget with a view to ensuring a timely passage of the budget in line with the standard practice of the State legislature.

Dignitaries present at the budget presentation included the State Deputy Governor, Engr. Noimot Salako-Oyedele, her former colleagues, Yetunde Onanuga and Salimot Badru, former Secretary to the State Government, Adegbemi Onakoya, former Speakers Titi Oseni-Gomez and Tunji Egbetokun, Former Heads of Service, members of the State Executive Council, members of body of Permanent Secretaries and party stalwarts amongst others.

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