Gov Amosun Unveils N221bn 2017 ‘Budget Of Repositioning’

Gov Amosun Unveils N221bn 2017 ‘Budget Of Repositioning’

overnor Ibikunle Amosun of Ogun State, Tuesday presented a plan to spend N221.129 billion in the 2017 fiscal year to the State House of Assembly.

The budget tagged ‘Budget of Repositioning’, which represents a 10.45% increase over the N200.2 billion earmarked for 2016, he said, reflects his administration’s “resolve to further minimize costs and continually maximize and diversify our capacity to generate revenues.”

A breakdown of the figure shows that total recurrent expenditure is projected at N102.82 billion or 46.50%, leaving a capital expenditure of N118.306 billion or 53.50%.

A further breakdown shows that salaries and allowances would gulp N62.73 billion or 28.37%;     pension and gratuities N11.2 billion or 5.06%; personnel cost; N73.93 billion or 33.43%; and overhead cost, N28.89 billion or 13.07%.

The proposed budget is to be funded from Internally Generated Revenue and (IGR), expected to yield   N114.34 billion or 51.71% while the state expects to earn N41 billion or 18.54% the Federation Account.

“Our intention to reposition the state’s economy requires us to continue to place greater emphasis on capital expenditure. This budget mix will support both the maintenance of existing infrastructure and allow the continued execution of more capital projects,” he told a gathering of the legislators and prominent stakeholders in the state.

He noted that N146.545 billion or 66.27%proposed budget will address five cardinal programmes such as: Affordable Qualitative Education, N47.054 billion, or  21.28%; efficient Healthcare Delivery, N15.105 billion or 6.83%; Agricultural Production/Industrialisation,   N11.61 billion, or 5.25%; Affordable Housing & Urban Renewal   N28.574 billion, or 12.92%; as well as rural and infrastructural development/employment generation,   N44.2 billion, or 19.99%.