Modupe Gbadeyanka
By Modupe Gbadeyanka
Governor Ibikunle Amosun of Ogun State on Wednesday presented a budget estimate of N402.6 billion to the state parliament for the 2019 fiscal year.
Mr Amosun, during the presentation at the Ogun State House of Assembly in Abeokuta, the state capital, called the 2019 Appropriation Bill a ‘Budget of Enduring Legacy.’
“2019 budget has been appropriately titled ‘Budget of Enduring Legacy’ to reflect our determination to deliver on our electoral promises to the optimal level, even as our tenure wraps up,” Mr Amosun explained.
According to him, while the capital expenditure will gulp 63.10 percent of the total budget, the remaining 36.90 percent will cater for recurrent expenditure.
He further told the members of the congress that the 2019 budget is 17 percent more than the amount budget for the 2018 financial year, noting that in the new bill personnel cost was made up of salaries, with allowances gulping N74.43 billion.
He also said pension and gratuities account for N22.2 billion which is 22.97 percent of total recurrent expenditure and 5.51 percent of total expenditure.
Mr Amosun, who will leave office on May 29, 2019, added that the balance of N44,447 billion which accounts for 10.29 percent is set aside for the overhead costs.
The budget, according to him, will be funded with the expected Internally Generated Revenue (IGR) and the monthly allocation from the Federation account.
In the 2019 budget estimate, education received the lion share of N88.579 billion representing 22.00 percent of the budget size, followed by infrastructure which got N82. 539 billion, 20.50 percent of the proposal.
Housing and Urban Renewal had N53.147 billion, with the health sector taking N22.547 billion allocation, while agriculture got N20.131 billion.
