Ogun State Governor, Dapo Abiodun, yesterday, presented N703.03 billion budget proposal for 2024 to the House of Assembly.
This is against the N472.250 billion budgeted for the 2023 fiscal year.
Giving a breakdown of the budget, tagged: “The Budget of Sustained Growth and Development,” Abiodun said it is made up of N287.37 billion as recurrent and N415.66 billion as capital expenditures. He explained that N95.05 billion will be used for personnel costs, N27.35 billion as consolidated revenue while N59.09 billion will go for public debt charges.
Speaking further, Abiodun noted that N105.88 billion is for overhead cost while capital expenditure will gulp N415.66 billion.
On sectoral allocation, Abiodun said N109.219 billion, representing 16 per cent will go to education, N81.185 billion representing 12 per cent will be for health, N28.886 billion, representing four per cent for housing and community development, N14.218 billion, representing two per cent, for agriculture and industry, while N209.122 billion, representing 30 per cent is allocated to infrastructure.
Others are N22.872 billion, representing three per cent for recreation and culture, N28.692, representing four per cent for social protection, while general public service, executive organ will gulp N31.125 billion, representing four per cent.
The state government is to spend N34.954 billion for general public service financial and fiscal affairs, representing five per cent, N1.939 billion, representing 0.3 per cent for general public service – general personnel service, and N12.187 billion, representing two per cent for public order and safety.
The governor also disclosed that economic affairs will take N3.083 billion, representing 0.4 per cent, N7.029 billion for judiciary, representing one per cent, legislature, N14.412 billion, representing two per cent, while N104.114 billion, representing 15 per cent is for the statewide.
The expenditure policy of the government in 2024, the governor maintained, is designed to achieve the strategic objectives of the Ogun State Economic Development Plan and Strategy 2021 – 2025, including fiscal sustainability; human development; food security; improved business environment; energy sufficiency; improving transport infrastructure; and promoting industrialisation focusing on small and medium scale enterprises.
While highlighting the key capital projects for 2024, the governor said: “The physical capital projects in the 2024 budget include; Light up Ogun Project to include procurement and installation of transformers statewide while partnering the private sector to experience uninterrupted power supply in 24 months. The hosting of the 2024 Ogun National Sports Festival.
“Construction, rehabilitation, and maintenance of roads across the state, including major ones such as Lagos-Ota-Abeokuta Expressway; Ofada-Owode Road, Lagos Garage-Ikangba-Ilese Road, Ota-Lafenwa-Itele-Ayobo Road; Ita Oshin-Ibara Orile-Ijoga Orile-Ibooro-Imasayi Road, OPIC Estate Internal Roads, Agbara, 250km Statewide construction in all three senatorial districts road infrastructure to support the 2024 Ogun National Sports Festival.”
He said his administration would focus on the construction of infrastructure at the various Economic Development Clusters, while efforts would be made to extend the Lagos Blue Line Metro Rail Project into Agbara, as well as the extension of the Lagos Red Line Metro Rail Project to Ijoko and Ifo/Kajola in line with the execution of the State’s multi-modal transport plan under the Lagos-Ogun Joint Development Commission initiative.
The governor, who emphasised the need to further secure the state, said additional security would be deployed and communication systems procured for security personnel, stressing the need for the installation of intelligent and on-street transport management and enforcement systems in all the three senatorial districts of the state.