Ogun State governor, Dapo Abiodun, Thursday presented a budget size of N703.028 billion to the state House of Assembly with infrastructure gulping N209, 122.60bn, representing 30 per cent of the appropriation bill.
The proposal was laid before the lawmakers at a session presided over by the Speaker, Olakunle Oluomo at the Assembly complex in Oke-Mosan, Abeokuta, the state capital.
Christened, “Budget of sustained growth and development,” Abiodun said the budget will be funded with Internally Generated Revenue (IGR), estimated at N100.81bn and statutory allocation from the federal government estimated at N182.05bn, among others.
The 2024 proposed budget has an increment of N230.78bn compared with the 2023 budget of N472.250bn.
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Abiodun put the performance of the 2023 budget at 74.39 per cent, adding that his administration would diversify the state’s economy to mineral exploration.
Addressing the lawmakers, the governor said, N415.66bn is estimated as capital expenditure, while N287.37bn is earmarked as recurrent expenditure.
Giving a breakdown of the budget, Abiodun said education is allocated N108,219bn (16 per cent), health takes N81,185bn (12 per cent), agriculture and industry gets N14,213bn (2 per cent), housing and community development takes N28,886bn (4 per cent) and social protection N28,692bn (4 per cent).
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