Governor Ibikunle Amosun of Ogun State, on Wednesday, presented a budgetary proposal of N402.633 billion (Four hundred and two billion, six hundred and thirty-three million naira) christened “Budget of Enduring Legacy,” to the Ogun State House of Assembly for the 2019 fiscal year.
Governor Ibikunle Amosun is surely preparing to leave the Office of the Governor of Ogun State with a louder ovation, as the 2019 budget presented to the State House of Assembly, saw the Education sector getting the lion share of the allocation of N88.579billion naira.
Presenting the budget, Ibikunle Amosun said the proposal was made up of N254.055 billion capital expenditure, representing 63.1 percent and recurrent expenditure of N148.5 billion, representing 36.9 percent.
Governor Ibikunle Amosun said the 2019 proposal was based on his administration’s resolve to deliver its campaign promises in spite of the fact that the administration was coming to an end.
The state projected N221.244 billion as revenue from both the Federal Allocation and Internally Generated Revenue (IGR) sources during the year, representing 54.97 percent.
“Personnel cost, made up of salaries and allowances, stands at N96.630 billion while pension and gratuities will be N22.200 billion which is 5.51 percent of total recurrent expenditure.
“The balance of N41.447 billion, which accounts for 10.29 percent, is set aside for the overhead costs,” he said.
“This administration has taken important strides with respect to growing revenue and directing it towards expanding the economic base of the state.
“In 2019, we will invest heavily in school infrastructure, upgrading primary and secondary schools across the state with the support of SUBEB.
“In agriculture, our focus in 2019 will be to consolidate on our achievements in the promotion of selected key value chain through state governments intervention and support from world bank supported interventions,”
See the breakdown of the budget as presented by Amosun:
Education: N88.579 billion (22%),
Healthcare Delivery: N22.547 billion (5.60%),
Agriculture: N20.131 billion (5%)
Housing and Urban Renewal: N5.147 billion (13.2%),
Rural and Infrastructural Development and Employment Generation: N82.539 billion (20.5%), Others: N135.687 (33.7%)