Ogun State Governor, Senator Ibikunle Amosun on Tuesday presented a total budget of N221.129bn for the 2017 fiscal year to the House of Assembly.
The budget represents an increase of 10.45% compared with the 2016 budget.
The recurrent expenditure will gulp 102.82bn or 46.50 percent of the budget
Capital expenditure will gulp N118.306bn or 53.50 percent.
The governor added "Our Expenditure consists of Capital Expenditure of N118.306bn (53.50%) and Recurrent Expenditure of N102.823Billion (46.50%).
"Personnel Cost, made up of Salaries and Allowances stands at N62.73 Billion while Pension and Gratuities account for N11.2Billion which is about for 5.06% of Total Expenditure.
"The balance of N28.89 Billion which accounts for 13.07% is set aside for the Overhead Costs, "Senator Amosun stressed.
The Governor revealed that the budget would be financed through Internally Generated Rrevenue (IGR) and revenue from the Federations Accounts.
Amosun added that 51.71 percent or N114.34bn of the proposed N221.129bn Budget which was tagged as "Budget of repositioning" is to be funded from IGR while N41bn or 18 percent is expected from the federations account.Capital receipts is expected to contribute N65.78bn or 29.75 percent of the budget.
The governor who regretted the poor revenue of the stste in 2016, noted that "as at 31st October, 2016, the overall Budget performance was 56.2%.
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