Gov. Abiodun Presents ₦472.25b Budget for 2023
• Allocates ₦270.41 For Capital Projects, ₦66.79bn For Education, ₦51.48bn For Health
By People’s Voice Nigeria | News
Gov. Abiodun is here presenting the 2023 budget documents to the Speaker of the House of Assembly, Rt. Hon. Olakunle Oluomo, on Thursday, November 17, 2022.
Ogun State Governor, Prince Dapo Abiodun, presented a total budget proposal of 472,250,694,447.58bn today, Thursday, November 17, 2022, before the members of the State House of Assembly for the 2023 fiscal year, consisting of ₦270.41bn for capital projects, ₦66.79bn for the education sector, and ₦51.48bn for the health sector, among others, before the members of the State House of Assembly for the 2023 fiscal year.
The budget christened, “Budget of Continued Development and Prosperity” consisted of ₦79.47bn for personnel costs, ₦21.12b for social contribution and social benefits, with ₦39.90bn earmarked for public debt charge, and ₦61.35bn for overhead costs.
Abiodun, while presenting the budget, explained that the state would accord priority attention to the completion of all ongoing projects and those with revenue potential, including the projects that could enhance employment generation.
He noted that others to be prioritized are projects consistent with priorities articulated in the State Economic Development Plan and Strategy (2020-2025) and others that align with the seven thematic areas contained in the Medium-Term National Development Plan 2021-2025.
According to him, the thematic areas were: economic growth and development, infrastructure, public administration (governance, security, and international relations), human capital development, social development, regional development, as well as plan implementation, communication, financing, monitoring, and evaluation.
Pointing out that the total state’s funding was estimated at ₦472.25 billion, the governor added that a total of ₦210.25bn, comprising of ₦90.00billion was expected to be generated by the state’s internal revenue service (OGIRS) in addition to ₦120.25b expected from other ministries, departments, and agencies (MDAs), which would enable the state to achieve an IGR to GDP ratio of 3.7%.
He further affirmed that the state would sustain the existing medium-term revenue strategy (MTRS) to drive the medium-term expenditure framework (MTEF), saying ₦92bn was being expected as statutory allocation (FAAC and VAT) from the federal government, with capital receipts put at ₦128.37b, consisting of internal and external loans as well as grants and aids.
Highlighting the sectorial allocations in line with the vision of his administration, the Governor said that ₦66.79bn was being allocated for the education sector, representing 14% of the total budget, while ₦51.48bn would cater for the health sector, representing 11%, with the housing and community development sector sharing 29.10bn, amounting to 6%, just as ₦16.48bn was voted for agriculture and industry, which represents 3 % of the total budget.
He added that infrastructure would consume ₦129.371bn representing 27% of the total budget, with recreation, culture, and religion sharing 6.90 billion, just as ₦23.38bn would be spent on social protection.
Earlier in his opening remarks, the Speaker, Rt. Hon. Olakunle Oluomo, said that the last three years of the present administration in the state had witnessed unprecedented development in all areas of human endeavor, which was a testimony of Governor Abiodun’s lofty dream for the state.
According to Oluomo, “You have succeeded in ensuring that Ogun State maintains its pride as the educational capital and industrial hub among the community of states in the country.” Your Excellency, without mincing words, the good people of Ogun State, the entire citizenry of Nigeria, and by extension, the whole world, are all living witnesses to Your Excellency’s ongoing monumental achievements and how you have been turning your dream for a prosperous Ogun State into reality with legacy projects such as the construction of rural, urban, intra-city, and inter-state roads across the nooks and crannies of the state, the Agro Cargo Airport, the Remo Special Agro-Industrial Processing Zone, and the Kajola Free Export Processing Zone, to mention just a few.
Your Excellency, Sir, you are indeed worthy of the National Honour of the Best Governor in the Industrial Revolution in Nigeria bestowed on you by the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, General Muhammadu Buhari, GCFR.”
The Speaker noted that the Ninth Assembly had been maintaining a cordial and peaceful relationship with the Executive Arm of Government, which had reflected in the level of achievements recorded by the present administration since its inception in 2019, commending the State Governor for approving the release of funds for this year’s constituency projects in the State.
He added that after the tender board had completed the necessary processes with the State Bureau of Public Procurement, the teeming constituents would start witnessing the commencement of the projects across the state.
Responding shortly after the governor’s presentation, Speaker Oluomo stated that the state deserved nothing less than a vibrant and articulate legislature, innovative leadership as the head of the executive arm, and a fearless judiciary, as being witnessed in the Gateway State through the various completed and ongoing projects, assuring that the legislative arm would redouble its efforts towards retaining its pride of place among the community of states in the Federation.
He promised that the state lawmakers would ensure the timely passage of the budget and the sustenance of the passage of laws and resolutions that would facilitate the provision of the needed facilities and other necessities of life and add value to the quality of lives of all people.
The budget presentation had in attendance the former military administrators, Col. Daniel Akintonde, Oladehinde Joseph, and Navy Captain Rasheed Raji, the former Deputy Governor, Yetunde Onanuga and Salimat Badru, former Speakers Suraju Adekunbi and Tunji Egbetokun, the State Head of Service, Dr. Nafiu Aigoro, the Chairman, Governor Advisory Council, Chief Olu Ogunboyejo, members of the State Executive Council, traditional rulers, including the Paramount Ruler of Remoland, Oba Babatunde, the representatives of Alake and Paramount Ruler of Egbaland, and Olu of Yewa Land, and the body of Permanent Secretaries, captains of industry and party stalwarts amongst others.
Credit: Prowling Eagles
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