Nigeria: Ogun budgets N402.6b for 2019 fiscal year
Abeokuta, November 22, 2018 (AltAfrica)-Governor Ibikunle Amosun of Ogun State on Wednesday presented the 2019 budget estimate of N402.63 billion to the House of Assembly. This represents 17 per cent increase of last year’s estimate, which was N345.4 billion.
Education got the lion’s share of N88.57 billion (22 per cent).A breakdown of the “Budget of Enduring Legacy” shows that N254.005 billion (63.1 per cent) was allocated to capital expenditure, while personnel cost, which consists of pension and gratuities, took N22.20 billion.
Salaries and allowances got N74.43 billion while recurrent expenditure got N148.57 billion.The overhead cost is fixed at N41.447 billion.
Amosun said that N161.24 billion of the budget would be sourced through internally-generated revenue (IGR), N42 billion from the federation account, while “N101.38 billion is expected from capital receipts, with other receipts providing N80 billion (19.8 per cent) of the total funding.”
The speaker, Suraj Adekunbi, assured that the lawmakers would work towards speedy passage of the budget and partner with other arms of government through people-oriented legislations for the implementation of new projects and completion of on-going ones across the state.
In his opening remarks, Adekunbi had stated that the 8th legislature under his leadership had, within one year, passed 21 bills, while 18 others were under various legislative processes.
Adekunbi added that 50 motions became resolutions, explaining that the assembly equally carried out its annual oversight function to ensure judicious use of fund in line with the Appropriation Act.