Ogun State Governor, Senator Ibikunle Amosun on Wednesday presented N402.63 billion 2019 budget proposal before the State House of Assembly.
The budget which represents 17 per cent increase compared to the running appropriation, was christened “Budget of Enduring Legacy.”
While presenting his last the Appropriation bill on Wednesday, the governor puts Capital Expenditure at N254.055 billion or 63.10 per cent, while the Recurrent Expenditure is N148.577 billion.
He added that “Personnel Cost, made up of Salaries and Allowances stands at N74.43billion while Pension and Gratuities accounts for N22.2 billion which is 22.97 per cent of total Recurrent Expenditure and 5.51 per cent of Total Expenditure. The balance of N44,447 billion which accounts for 10.29 per cent 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.
Education sector got the lion share with N88.579 billion representing 22.00 per cent of the budget size, followed by Infrastructure which got N82. 539 billion which is 20.50 per cent of the proposal.
About N53. 147 billion allocation goes to Housing and Urban Renewal, the health sector has N22. 547 billion allocation, while Agriculture got N20. 131 billion.
“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,” the outgoing governor said.
Responding shortly after about two hours budget speech, the Speaker of the Assembly, Suraj Adekunbi assured the governor of a speedy passage of the Appropriation Bill for adequate implementation.