Follow Us on Google
Laide Raheem, Abeokuta
Ogun State Governor, Dapo Abiodun, yesterday, presented N449.974 billion as the budget proposal for 2020 before the House of Assembly.
The appropriation bill, christened “Budget to Build Our Future Together,” according to the governor, was a reflection of his administration’s determination to deliver its electoral promises to the optimal level.
The budget presentation was witnessed by past military administrators, former governor Gbenga Daniel, Gboyega Isiaka, traditional rulers, top officials of government and members of the civil society organisations.
Giving the components of the budget size, Abiodun said N269.132 billion was proposed as capital expenditure, while recurrent expenditure, that would cover salaries and allowances, pension and gratuities, would be N180.42 billion.
The governor, who explained the proposed budget would be allocated among “Five Strategic Pillars” essentially coined ISEYA, disclosed infrastructure would gulp N107.964 billion, while N128.067 billion was proposed for social welfare and well-being.
Further analysis of the budget revealed that education and youth empowerment, culture and religion would gulp N91.609 billion and N7.896 billion, respectively.
On agriculture, the governor said N21.634 billion was expected to be expended on the sector in 2020, while N92.804 billion was proposed for others.
On financing of the proposed budget, Abiodun said N254.946 billion is expected from the internally generated revenue, while N43.431 billion is expected from the statutory allocations from the Federal Government.
He added that N22.031 billion is expected from the Value Added Tax (VAT) in 2020.
Other sources expected to finance the budget, accordingly to the governor, include capital receipts and other receipts of N89.706 billion and 39 860 billion.
