Governor Dapo Abiodun on Tuesday presented N449.974 billion budget proposal to the Ogun State House of Assembly for deliberation and approval by the state lawmakers for 2020 fiscal year.
Abiodun who tagged the 2020 appropriation bill as “Budget to Build Our Future Together” said the annual fiscal estimate reflects his administration’s determination to deliver on its electoral promises.
Giving the budget breakdown during the House plenary presided by Speaker Kunle Oluomo at the Assembly Complex, the Governor explained that N269.132Bn representing (60.31%) was proposed for capital projects, while N180.842Bn (39.69%) was set aside for recurrent expenditure.
He added that N83.238Bn was earmarked for salaries and allowances of workers while pension and gratuities would take N25.94Bn representing 18% of total expenditure.
According to him, the balance of N71.659Bn signifying a 16% of the total budget is estimated for overhead cost.
Abiodun assured that the government would formulate policy thrust for the holistic actualization of the budget towards localising the Sustainable Development Goals (SDGs) through the public – private partnership initiatives.
He said the administration had put in place a mechanism for a workable public financial management system to eliminate leakages and ensures efficient and judicious use of the State wealth.
According to him, there would be full automation of the State Finance functions, strict adherence to the proposed fiscal responsibility law, instituting credit rating for the State by internationally accepted rating agencies and strengthening internal audit functions.
He noted that there would also be timely publication of audited accounts of the state.
Earlier in his address, Speaker Kunle Oluomo, lauded Governor Dapo Abiodun for what he described as “the great strides made and solid foundations laid in all sectors” by him in the last seven months despite the avalanche of “booby traps” set for his administration.
Oluomo added that a catalogue of litigations were also raised against Dapo Abiodun and his loyalists; ostensibly to distract him from “governance.”
Oluomo said: “Despite the booby traps set for you and the catalogue of litigations raised against you and your loyalists to distract you from governance, the great strides made and solid foundations laid in all sectors within the last few months is a pointer to the growth and development that the people of Ogun State will witness under your administration.
“It is therefore ridiculous and un-state-manly for any fifth columnist to state that the impact of this government has not been felt.
“However, today, in the history of the current administration, a giant stride is being made as the First Annual Budget of this administration on the vision to build a qualitative and focused government is being presented to the Ninth Legislature of our dear State.”
Oluomo, assured of continuous and robust relationship between the legislature and other arms of government through the enactment of more people oriented legislations.