Ogun State Governor, Ibikunle Amosun, has presented an Appropriation Bill of N402.6 billion to the state’s House of Assembly for consideration as the 2019 budget.
Amosun tagged the Appropriation Bill a ‘Budget of Enduring Legacy’ with the 63.10 percent of the total budget proposed as capital expenditure and the remaining 36.90 percent as recurrent expenditure.
The governor, while the laying of the fiscal document proposal at the Legislative chambers on Wednesday explained that the “2019 budget has been appropriately titled ‘Budget of Enduring Legacy’ to reflect our determination to deliver on our electoral promises to the optimal level, even as our tenure wraps up.”
He told the lawmakers that the 2019 budget was 17 percent higher than the 2018 financial year budget.
According to him, in the 2019 Appropriation Bill, personnel cost will gulp N74.43 billion while pension and gratuities account for N22.2 billion or 22.97 percent of total recurrent expenditure and 5.51 percent of total expenditure.
The governor explained that the balance of N44.447 billion, representing 10.29 percent was proposed as overhead costs.
Amosun told the legislators that the proposed N402.6 billion budget would be funded from the state’s Internally Generated Revenue (IGR) and the monthly allocation from the Federation Account.
A further analysis of the sectoral provisions in the proposed budget showed that in the 2019 , education will receive the lion share of N88.579 billion, representing 22 percent of the budget size, followed by infrastructure which will get N82. 539 billion, or 20.50 percent of the proposed budget.
In addition, Housing and Urban Renewal had N53.147 billion proposed as expenditure, Health Sector is proposed to have N22.547 billion allocation, while Agriculture has N20.131 billion as proposed budget.
