Ogun State Governor, Sen. Ibikunle Amosun has presented a budget estimate of N402.63 billion as the 2019 Appropriation Bill to the State House of Assembly.
Governor Amosun said that his administration rehabilitated, upgraded and widened over 100 existing roads totaling over 600km, opened new roads in excess of 350km in length, and constructed new bridges and flyovers across the three senatorial districts of the state, in the last seven years.
He noted that the 2019 budget proposal represents 17% increase compared to the previous year budget size of N345.4 billion.
Giving a breakdown of the estimate christened, ‘Budget of Enduring Legacy’, Amosun explained that the sum of N254.005 billion be expended on capital projects, representing 63.1% of the total budget.
The governor, further stated that personnel cost, consisting of pension and gratuities would gulp N22.20 billion, just as salaries and allowances were put at N74.43 billion.
He disclosed that the recurrent expenditure would gulp N148.57 billion representing 36.90% and overhead cost fixed at N41.447 billion giving 10.29%.
Disclosing the sources of financing the budget proposal, Amosun, said a sum of N161.24 billion, representing 40% would be sourced through internally generated revenue, as N42 billion was being expected from the Federation Account, while the sum of N101.38 billion would be sourced from capital receipts, with other receipts providing N80 billion, representing 19.80% of the total funding.
On the sectoral breakdown of the estimate, the governor said that the affordable qualitative education programmes would get the lion share of N88.57 billion, representing 22%, with a sum of N22.54 billion allocated to the health sector, while N20.13 billion was earmarked for various agricultural production/industrialisation programmes.
He added that the sum of N53.14 billion was meant to cater for affordable housing and urban renewal, with rural and infrastructural development/ employment generation given N82.53 billion, just as other sectors would share N135.68 billion.
