Ogun State Governor Dapo Abiodun, on Wednesday, presented an appropriation bill of N1.055 trillion for 2025 to the State House of Assembly for approval.
Presenting the budget christened ‘Budget of Hope and Prosperity’, the governor stated that the figure was made up of N600.98 billion as capital expenditure and N453.56 billion as recurrent expenditure.
He stated that the budget earmarked N120.14 billion as personnel costs, N75.07 billion as public debit charges, and N219.86 billion as overhead costs.
He said, “The total State funding is estimated at N1,054,542,020,147.47 for the year 2025.
“The revenue composition includes an estimated N120.97 billion from the Ogun State Internal Revenue Service (OGIRS) and N193.85 billion from other Ministries, Departments, and Agencies (MDAs), totalling N314.82
billion.
“Statutory allocations from the Federal Government, including FAAC and VAT, are projected at N228.06 billion.”
Abiodun, giving a breakdown and key allocation, noted that infrastructure would gulp 27 per cent of the budget at N284.456 billion, education would gulp N167.835 billion, representing 17 per cent of the budget, and health at N 134.538 billion representing 13 per cent.
He noted that N66.382 billion, representing 6 per cent, would be expended on housing and community development, N65.387 billion at 6 per cent for agriculture and industry, while recreation, culture and religion would gulp N25.274 billion at 2 per cent.
The governor highlighted physical projects which included the renovation of general and state hospitals, procurement of laboratory and medical equipment across the state; construction of Redline Metro Rail Extension Agbado-Kajola; Blueline Metro Rail at Okokomaiko-Agbara/Lusada and Purpleline Metro Rail line Mowe Iperu, as some of the capital projects that his administration would embark on in 2025.
According to the governor, the budget strives to balance fiscal responsibility with improved public service delivery, ensuring resources are used effectively to maximize prosperity for all, by tackling immediate issues like unemployment and poverty.
He maintained that it also serves as a roadmap for economic and social progress with its vision to inspire hope, foster unity, and strengthen public trust in the government’s ability to manage resources responsibly.
Responding the Speaker of the House of Assembly, Oludaisi Elemide, assured the governor that the House will do all it can to ensure a successful passage.
Elemide reiterated that the House is ready to cooperate and support both the executive and the judiciary arms of government.
Click to signup for FREE news updates, latest information and hottest gists everydayAdvertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com