Ogun state governor, Ibikunle Amosun yesterday presented a budget estimate of N420.630 billion as year 2019 Appropriation Bill to the state House of Assembly.
The appropriation bill which he christened “Budget of Enduring Legacy”, represents a 17 per cent increase compared to that of the outgoing year which stood at N345. 4 billion.
Presenting the budget estimate before the state lawmakers, Amosun explained that the year 2019 Appropriation Bill will be substantially financed through the state’s Internally Generated Revenue (IGR), while a total of N42 billion is expected to be a total receipt from the Federation Account.
He further said the state is expected to generate the sum of N101. 38bn from her capital receipts, with other state’s receipts is projected at N80 billion, representing 19. 80 per cent of the total funding.
Amosun also explained that the proposed Budget is to be allocated among the Five Cardinal Programmes of his administration which included: Affordable and Qualitative Education; Efficient Healthcare Delivery; Agricultural Production/Industrialisation; Affordable Housing & Urban Renewal as well as Rural& Infrastructural Development/Employment Generation.
He explained that his administration has being on a development journey that has clear momentum which must not be truncated in order that the state can fully occupy its rightful place of leadership in the comity of states.
“The privilege of standing here for the eighth straight time, presents us with an opportunity to look back on how far we have come as a state and where we envision our beautiful state to be in the coming years”.
The sectoral breakdown of Amosun’s “Budget of Enduring Legacy” however, indicated that education sector will gulp a lion share as the state’s affordable qualitative education programmes would get a share of N88.57Bn, representing 22 per cent of the budget.