Governor Ibikunle Amosun of Ogun State yesterday presented a budget proposal of N210.21 billion for the 2014 fiscal year to the state House of Assembly. The budget proposal, tagged “Budget of Consolidation” indicated a marginal reduction of N1.57 billion from that of this year which stood at N211.78 billion.
Amosun, while presenting the Appropriation Bill before the House yesterday, said the budget aims at building upon the progress already recorded in the state in the last two years.
The governor who explained that the 2014 budget was as a result of plunging revenue from the Federation Account, said the state encountered some hitches in the implementation of this year’s budget, which tood at 64 per cent as at September 30, 2013.
The proposed budget, revealed that N92.70 billion would be expended on recurrent expenditure, while N117.51 billion is to be spent on capital expenditure. Amosun told the lawmakers that the “slight increase” in capital allocation was to enable his administration complete all the on-going infrastructural renewal projects spread across the state.