Ogun Assembly slashes 2018 budget to N343.9bn as Amosun signs appropriation bill into law
Ogun State Governor, Senator Ibikunle Amosun on Thursday signed the 2018 appropriation bill into law.
Present at the signing of the budget into law included, the speaker of Ogun State, Hon. Suraj Ishola Adekunbi, his deputy, Hon. Taiwo Oluomo, Chief whip, Hon. Idowu Olowofuja, Chairman, House committee on finance and appropriation, Hon. Olusola Bankole, among others.
Ipso facto, in the N 343.9bn expenditure approved, the house reduced both capital and recurrent expenditure. It is N1.4 bn lower than
N345.4 billion presented by Governor Amosun to the House of assembly last November. With the cut in the budget, capital vote of N223.7bn is now N222.8bn while the recurrent expenditure of N108.1bn is now N107.6 bn. The proposed N98.1bn capital receipt was reduced by N1.6bn, and is now N96.5bn for the 2018 fiscal year.
In Ministry of Special duties, N600m was reduced in the recurrent expenditure, now at N585m instead of N1.1bn presented. The recurrent vote of Moshood Abiola Polytechnic Abeokuta (MAPOLY) was cut down by N500m to N1.9bn, while the State house of Assembly recurrent vote was increased by N500m to N2.9bn. The Forest ministry capital project was cut by N500m to N1bn from the earlier N1.5bn. The environment ministry capital vote was reduced by N500m to N4bn.
Gov. Ibikunle Amosun of Ogun on Tuesday presented to the state House of Assembly a budget of N345.4 billion for 2018
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