•Presents N200.3b budget
Governor Ibikunle Amosun yesterday presented a budget proposal of N200, 274, 453, 352 billion to the Ogun State House of Assembly.
The budget is expected to be financed largely from Internally Generated Revenue (N108 billion), federal allocation (N42 billion) and external loan (N40 billion).
The 2016 budget experienced 4.9 per cent reduction compared to this year’s N210.3 billion.
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Amosun, who spent nearly two hours defending the budget, christened: “Budget of Optimisation”, said the budget would be judiciously used to execute his administration’s five-point agenda.
The governor said his administration would not reduce the N18,000 minimum wage.
He said: “Despite dwindling funds from the Federation Account, decisive and pragmatic steps must be taken as we seek to actualise our goals in Ogun State.
“We shall continue to demonstrate prudence while also exhibiting financial resourcefulness to ensure that projects across the state are completed.”
According to him, the proposed budget would be allocated among the administration’s five cardinal programmes – affordable qualitative education N40,170,805,280; efficient health care delivery N14,346,259,000; agricultural production/industrialisation N10,167,958,000.
Others are affordable housing and urban renewal N26,567,290,663 as well as infrastructural development/employment generation N31,048,600,000 and miscellaneous N77,973,540,409.
He assured the people that all projects, particularly roads, would be completed before 2019.
The governor explained that N99.29 billion (49.6 per cent) was allocated to capital expenditure while N100.98 billion (50.4 per cent) went to recurrent expenditure.
The Nation
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