Gov. Ibikunle Amosun of Ogun on Wednesday presented a budget of N402.6billion for 2019 to the State House of Assembly.
Christened, “Budget of Enduring Legacy,” Amosun said the figure represented an increase of 17 per cent over the N345.4 billion budgeted for 2018.
He said the proposal was made up of N254.055 billion capital expenditure, representing 63.1 per cent and recurrent expenditure of N148.5 billion, representing 36.9 per cent.
The governor said the 2019 proposal was based on his administration’s resolve to deliver its campaign promises in spite of the fact that the administration was coming to an end.
Amosun said the state projected N221.244 billion as revenue from both the Federal Allocation and Internally Generated Revenue (IGR) sources during the year, representing 54.97 per cent.
“Personnel cost, made up of salaries and allowances, stands at N96.630 billion while pension and gratuities will be N22.200 billion which is 5.51 per cent of total recurrent expenditure.
“The balance of N41.447 billion, which accounts for 10.29 per cent, is set aside for the overhead cost,” he said.
Amosun said the budget would be funded largely through IGR.
The governor said the Education sector had the lion share of N88.579 billion, followed by Rural and Infrastructure Development/Employment Generation sector, N82.539 billion.
Amosun said affordable housing and urban renewal would gulp N53.147 billion, health care delivery, N22.547 billion and agricultural production/industrialisation, N20.131billion.
“This administration has taken important strides with respect to growing revenue and directing it towards expanding the economic base of the state.
“In 2019, we will invest heavily in school infrastructure, upgrading primary and secondary schools across the state with the support of SUBEB.
“In Agriculture, our focus in 2019 will be to consolidate on our achievements in the promotion of selected key value chain through state governments intervention and support from world bank supported interventions,” he said.
Responding, the Speaker, Mr Suraj Adekunbi, said the Assembly would pay the necessary attention to the budget and pass it as soon as possible.
Adekunbi said the legislative arm of government had been collaborating with the executive in advancing the socio-economic development of the state.
He said the 8th Legislature under his leadership had within the year passed a total of 21 bills, while 18 others were under various legislative processes, with 50 motions passed into resolutions. (NAN)