Abiodun Onafuye/ Abeokuta
Governor Ibikunle Amosun of Ogun State, southwest, Nigeria today presented to the State House of Assembly a budget of N210.354 billion for the 2015 Financial Year.
The 2015 Appropriation bill, which is titled “Budget of Continuity”, is the fourth to be submitted by this administration.
The budget is a little higher than the N210.28 billion, budgeted last year.
Amosun said the budget performance for the outgoing year was affected by the falling global oil prices, which affected the cash inflow to the national economy.
The governor however said that the State will be able to fund its budget size by innovatively growing its Internally Generated Revenue, IGR.
According to Amosun, the state recorded b 67.17 per cent budget performance as at 30 June, 2014 and 68.34%, by September, an improvement over the 64.2% achievement recorded in the corresponding period of 2013.
“This improvement is largely attributable to the improvements in the IGR performance, which contributed the lion share of our total actual revenue. This is consistent with our determination to attain fiscal independence,” Amosun said..
The budget for next year comprises capital expenditure of N118.26 billion, which is about 56% and recurrent expenditure gulping a total sum of N92.09 Billion, which amounts to 44%.
The personnel cost, which is made up of salaries and allowances will take N50.15 billion while pension and gratuities will gobble N10 billion.
Overhead cost for next year is estimated at N31.94 billion.
Governor Ibikunle Amosun revealed that the 2015 budget will focus on successful completion of on-going projects, maintenance of the already completed ones and exploring other initiatives that are crucial to the progress of the State.
According to the governor, “The 2015 Appropriation Bill is tagged “Budget of Continuity”.
” We remain resolutely committed to improving the socio-economic wellbeing of our people and taking the State to an enviable pedestal. To achieve an all-round development, we intend to undertake a review of our programmes and strategies and re-order our priorities in line with the emerging realities, without losing focus of the overall objectives. In anticipation of this, it is necessary that all the achievements of our administration are firmed up.”
All the 26 lawmakers of the State House of Assembly were present at the House to receive the budget.
Four former military administrators of the the State were also in attendance. They are: Gen. Seidu Balogun (retd.), Gen. Ekundayo Opaleye (retd.), Col. Daniel Akintonde (retd.) and Oladeinde Joseph.
Others at the budget presentation are the Paramount ruler of Ijebuland, Oba (Dr.) Sikiru Kayode Adetona, Paramount ruler of Egbaland, Oba (Dr.) Michael Aremu Adedotun Gbadebo and Paramount ruler of Yewaland, Oba Kehinde Olugbenle.
Also in attendance were Senator Biyi Durojaiye, Asiwaju S.K. Onafowokan, Prince Bola Ajibola, Chief Ogo Oluwa Bankole, Otunba Fatai Arowolo, Justice Demola Bakre, Deacon Poju Adeyemi, Otunba Seyi Oduntan, Alhaji Tajudeen Ola Bello, National Treasurer of APC, religious leaders led by the Chief Imam of Egbaland, Sheikh Imam Liadi Orunsolu, market men and women, captain of industries among others.