Governor Ibikunle Amosun of Ogun State on Tuesday restated his resolve to complete ongoing projects as well as initiate new ones in the state.
The governor disclosed this while presenting the 2018 budget proposal of N345.4 billion to the state House of Assembly.
The governor explained that the 2018 appropriation bill would reflect on his administration resolved to achieve its campaign promises by embarking on new projects and completing on ongoing projects.
The budget, christened: “Budget of Accelerated Development,’’ represented an increase of 57 per cent compared to the N221.12 billion budget for 2017.
Governor Amosun said the sum of N223.72 billion was earmarked for capital expenditure, which is about 64.77 per cent of the estimates, while N121.69 billion would be for recurrent expenditure, representing 35.23 per cent.
The governor said that the expected revenue from both Internally Generated Revenue (IGR) and the Federation account was N197.258 billion, representing 57.10 per cent.
“Personnel cost made up of salaries and allowances stands at N81.869 billion while pension and gratuities will be N13.50 billion which is 3.9 per cent of total recurrent expenditure.
“The balance of N39.829billion which accounts for 11.53 per cent is set aside for the overhead cost,” he said.
Governor Amosun said that the budget would be largely funded through the IGR, stressing that the state would depend less on federal allocations.
He said that the education sector had the lion share of N79.246 billion and was immediately followed by rural and infrastructure development/employment generation, with N73.606 billion.
Amosun disclosed that affordable housing and urban renewal would gulp N45.733 billion, health care delivery N21.199 billion and agricultural production/industrialisation N21.137 billion.
The governor stated that transforming output in the state was at the heart of the state’s drive for accelerated economic growth and job creation for the people.
“We have strong support from our development partners to develop value chains for crops and livestock, such as cassava, rice, fruits, vegetables, poultry, cotton, cocoa and oil palm.
“This will improve food security and support industrial activity and export in 2018 and beyond.
“We are on course to significantly increase rice production in the state and have enabled the cultivation of 1,700 hectares for this purpose in 2018, he said.
The Speaker, Mr Suraj Adekunbi, said the House of Assembly would pay all necessary attention to the proposed budget and pass it into law as soon as possible.
He said that the legislative arm of government had been collaborating with the executive arm in advancing the socio-economic development of the state.
The speaker added that the assembly had within the last one year passed nine bills into law.
“To further support the activities of the current administration and to ensure better life for the teeming populace, the House has passed eight motions into resolutions,’’ he said.
In attendance at the occasion were the former Head of the Interim National Government, Chief Earnest Shonekan, Deputy Governor, Yetunde Onanuga, Senator Iyabo Anisulolwo, as well as a foremost Chartered Accountant, Akintola Williams.
Others are the Chairman of Ogun Traditional Council and Olu of Ilaro, Oba Kehinde Olugbenle, Alake of Egbaland, Oba Adedotun Gbadebo, members of the state executive council, political leaders and others.