….Capital Projects To Gulp N270.41bn
The governor of Ogun State, Prince Dapo Abiodun, in Thursday, November 17, presented a total appropriation proposal of N472,250,694,447.58 before the state House of Assembly for the fiscal year 2023.
Christened: ‘Budget of Continued Development and Prosperity,’ the Appropriation Bill devoted the lion share of N270.41 billion for capital projects, while N201.84 billion will cater for recurrent expenditure.
The budget proposals allocated N79.47 billion for personnel costs; while N21.12 billion was earmarked for social contribution and social benefits; public debt charge will gulp ₦39.90 billion; N61.35 billion was budgeted for overhead costs.
Explaining that the his administration would Accord priority attention to the completion of all ongoing projects, especially, ones with revenue potentials, including projects that could enhance employment generation in the state, Governor Abiodun noted that others projects to be prioritized are those consistent with priorities articulated in the state Economic Development Plan and Strategy, EDPS, 2021-2025 and others that align with the seven thematic areas contained in the Medium-Term National Development Plan, MTNDP, 2021-2025.
Prince Abiodun revealed that the thematic areas include: economic growth and development; infrastructure; public administration – governance, security, and international relations; human capital development; social development; regional development; as well as plan implementation, communication, financing, monitoring and evaluation.
He pointed out that the state’s total funding was estimated at N472.25 billion, adding that a total of 210.25 billion, comprising of N90.00 billion was expected to be generated by the state Internal Revenue Service, OGIRS, in addition to the N120.25 billion, expected from other Ministries, Departments and Agencies, MDAs, which he said would would enable the state achieve an IGR to GDP ratio of 3.7 per cent.
Prince Abiodun further affirmed that the Gateway State would sustain the existing Medium-Term Revenue Strategy, MTRS, to drive the Medium-Term Expenditure Framework, MTEF, insisting that N92 billion was expected as statutory allocation from the Federal Government, with capital receipts put at N128.37 billion, which comprised of internal and external loans as well as grants and aids.
Giving a highlight of sectorial allocations, in line with the vision of his administration, the Ogun State helmsman said that N66.79 billion, representing 14 per cent is allocated to the education sector; while the health sector grabs ₦51.48 billion, representing 10.8 per cent.
He added the housing and community development sector is allocated N29.10 billion, which amounted to 6 per cent I the budget proposals; just as N16.48 billion, representing 3 per cent of the total appropriation proposals would be devoted to agriculture and industry.
Governor Abiodun told the Assemblymen that infrastructure would gulp N129.371 billion, 27 per cent of the total budget proposals; while recreation, culture and religion would share N6.90 billion, just as N23.38 billion would be spent on social protection.
Responding shortly after the presentation of the budget proposals, the Speaker, Ogun State House of Assembly, Rt. Hon. Olakunle Oluomo stated that Ogun State deserves nothing less than a vibrant and articulate legislature, an innovative leadership as the head of the executive arm and a fearless judiciary as being witnessed in the Gateway State through the various completed and ongoing projects.
Oluomo assured that the legislative arm would redouble its efforts towards retaining its pride of place among the comity of states in the federation.
Promising that the lawmakers would ensure the timely passage of the budget, Rt. Hon Oluomo also assured of the House’s intention to ensure the sustenance of the passage of laws and resolutions that would facilitate the provision of the needed facilities and other necessities of life towards adding values to the quality of lives of all the people.
Earlier, Oluomo had said that the last three years of the present administration in the state had witnessed unprecedented development in all areas of human endeavour, which was a testimony of Governor Abiodun’s lofty dream for the state.
He said, “You have succeeded in ensuring that Ogun State maintains its pride as the educational capital and industrial hub among the comity of states in the country.
“Your Excellency, without mincing words, the good people of Ogun State, the entire citizenry of Nigeria, and by extension, the whole world, are all living witnesses to Your Excellency’s ongoing monumental achievements and how you have been turning your dream for a prosperous Ogun State into reality with legacy projects, such as the construction of rural, urban, intra-city and inter-state roads across the nooks and crannies of the state, the Agro Cargo Airport, the Remo Special Agro-Industrial Processing Zone, the about to be resuscitated Kajola Free Export Processing Zone, to mention just a few.
“Your Excellency Sir, you are indeed worthy of the National Honour of the Best Governor in Industrial Revolution in Nigeria bestowed on you by the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, General Muhammadu Buhari, GCFR.”
The Speaker noted that the Ninth Assembly had been maintaining cordial and peaceful relationship with the executive arm of government, which had reflected in the level of achievements recorded by the present administration since its inception in 2019, commending the state governor for approving the release of fund for this year constituency projects in the state.
Oluomo added that after the tenders board had completed the necessary processes with the state Bureau of Public Procurement, the teeming constituents would start witnessing the commencement of the projects across the state.
