Amosun presents N345.42bn Appropriation bill to Ogun Assembly
Governor of Ogun State, Senator Ibikunle Amosun has presented a total budget size of N345.42 billion as the 2018 Appropriation Bill in the State House of Assembly.
This appropriation bill represents about 57% increase from the 2017 budget with Education sector which has highest share of N79.246b which represented 22.9% of the total budget.
The budget which tagged as "Budget of Accelerated Development", allocated a sum of N223.721 billion for capital projects representing 64.7 %, while the remaining N121.698bn which represents 35.2 % was earmarked for recurrent expenditure with the target revenue for the fiscal year put at N197.258Bn.
Amosun said that other sources of funding the budget would include N48bn from the Federation Account and capital receipt put at N98.16 Bn, while N50Bn was expected from other receipts.
Other sectors to be taken care of by the proposed budget included , efficient healthcare delivery, N21.19billion (6.13%), agricultural production and industrialisation would gulp N21.13billion (6.12%), affordable housing and urban renewal, N45.73billion (13.24%) and rural and infrastructural development/employment generation, N73.60billion (21.3%) while the remaining N125.93bn (30.25%) would cater for other sectors.
The capital expenditure was put at N 223.72Bn (64.7%) while recurrent expenditure was N121.698 bn (35.2%) with Personnel cost, made up of salaries and Allowances including Pension and gratuities stood at N81.86bn (23.7%) . A further breakdown revealed that pension and gratuities accounted for N13.5 billion of the N81.8bn.
The budget presentation was attended by for Interim Head of State, Chief Ernest Sonekan, former military administrators in the State, Traditional rulers including the Chairman of the State Council of Obas and the Olu of Ilaro and Paramount Ruler of Yewa Land, Oba Kehinde Olugbenle, the Paramount Ruler of Egbaland, Adedotun Aremu Gbadebo, members of the State Executive Council and other stakeholders amongst others.
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