Ogun State Governor Dapo Abiodun, Wednesday presented a budget proposal of N339 billion for the 2021 fiscal year to the State House of Assembly for consideration and approval.
The governor, while presenting the proposed budget at the state House of Assembly Complex in Oke-Mosan, Abeokuta, the state capital, said the budget represented N110.974 billion reduction from the 2020 budget of N449.974 billion.
He said that the budget was meant to address the COVID-19 pandemic, #EndSARS protests, general feeling of disenchantment in the polity, socio-economic yearnings of the Ogun State people for good governance, as well as the stringent calls in all societal spheres for a more representative democracy that speaks to the issues of economic growth, consistent progress and equitable quality of life.
Abiodun said that the 2021 Appropriation Bill tagged “Budget of Recovery and Sustainability,” would be financed with the monthly Internally-Generated Revenue (IGR) and the federal allocation.
The budget comprises recurrent expenditure of N162 billion (48 per cent of the total budget) and a capital expenditure of N177 billion (52 per cent).
Highlights of the budget include infrastructure, N61 billion; social welfare and well-being N93 billion (includes health, housing, environment, physical planning, women affairs, etc); education, N58 billion; youth empowerment, N6 billion; agriculture, N15 billion and Enablers N106 billion.
Abiodun said the state would also set aside N12 billion for Stabilisation Fund and N10 billion for Public Debt Charges.
The governor reiterated his administration’s firm commitment to a legacy of hope, financial stability, and fiscal prudence, as he promised a drastic reduction in the discriminatory impact of poverty by strengthening all regulatory and institutional frameworks that are crucial to the preservation of the state’s rich cultural, financial and historical heritage.
“We have resolved to keep exploring Public-Private Partnership strategies in provision of infrastructure, social services, and conversion of our challenges to opportunities within the context,” he stated.
Speaker of the House, Olakunle Oluomo, in his remarks, pledged that the legislature would give the proposal expedited passage to ensure prompt implementation of the budget.