Gov. Abiodun budgets N703bn for 2024

Ogun State Governor, Prince Dapo Abiodun, on Thursday, presented N703.03billion budget proposal for the year 2024 to the state House of Assembly.

This is against the N472.250 billion budgeted for the 2023 fiscal year.

He explained that N95.05 billion would be used for Personnel Costs, N27.35 billion as Consolidated Revenue while N59.09 billion would go for Public Debt Charges.

Speaking further, Prince Abiodun stated that N105.88 billion was for Overhead Cost while Capital Expenditure would gulp N415.66 billion.

On sectoral allocation, Abiodun said the sum of N109.219 billion, representing 16% would go for education, N81.185 billion representing 12% would be for health, while N28.886 billion, representing four percent would be for housing and Community Development.

Others are N22.872 billion, representing three per cent for recreation and culture; N28.692, representing four per cent for social protection, while general public service, executive organ will gulp N31.125 billion, representing four percent.

The state government is to spend N34.954 billion for General Public Service Financial and Fiscal Affairs, representing five percent; N1.939 billion, representing 0.3% for General Public Service- General Personnel Service, and N12.187 billion, representing two percent for Public Order and Safety.

Abiodun also said that Economic Affairs would take N3.083 billion, representing 0.4%, Judiciary N7.029 billion, representing one percent, Legislature, N14.412 billion, representing two percent, while N104.114 billion, representing 15% is for the Statewide.

While highlighting the key capital projects for year 2024, the governor said: “The physical capital projects in the 2024 budget include; Light up Ogun Project to include procurement and installation of transformers statewide whilst partnering with the private sector to experience uninterrupted power supply in 24 months. The Hosting of the 2024 Ogun National Sports Festival.

“Construction, rehabilitation, and maintenance of roads across the state, including major ones such as Lagos–Ota-Abeokuta Expressway; Ofada-Owode Road, Lagos Garage – Ikangba – Ilese Road, Ota-Lafenwa-Itele-Ayobo Road; Ita Oshin, Ibara-Orile-Ijoga Orile – Ibooro – Imasayi Road, OPIC Estate Internal Roads, Agbara, 250km Statewide construction in all three (3) senatorial districts road infrastructure to support the 2024 Ogun National Sports Festival.”

The governor who emphasized the need to further secure the state, said additional security networks would be deployed and communication systems procured for security personnel, stressing the need for the installation of intelligence and on-street transport management and enforcement systems in all the three senatorial districts of the state.

Abiodun added: “Our administration will construct over 2,000 housing units in various locations across the State like Warewa, Sagamu, Iperu, Ibara, Ayetoro Road (Abeokuta), OGTV Village, Ijebu-Ode, etc. Water reticulation projects to connect more households to potable water supply having completed the Urban Water Supply Project.

“Training the youth on Digital Solutions to enhance youth involvement in Agriculture. Refurbishment and renovation of technical colleges and vocational centers.Construction and Rehabilitation of Blocks of Classrooms, Technical Workshop/Science Laboratory at the Primary and Secondary Schools with the provision of furniture and equipment across the Four (4) Divisions in the State”.

He said as at 30th of September 2023, the state had achieved 74.39% of the pro-rated revenue target for this year’s budget, noting that that budget credibility as determined by performance was the best the State ever had in its financial management history, even as he assured that his administration was poised to finish this year at well above 75% performance.

Speaker of the House of Assembly, Olakunle Oluomo applauded the cordial relationship between the executive and the legislative arms, saying this has culminated in the socio-economic development of the state.

He promised that the House of Assembly would work towards giving the Bill accelerated passage for the government to continue its developmental stride.