Ogun State Governor, Dapo Abiodun, yesterday, presented the 2024 budget of N703.028 billion to the State House of Assembly for approval. According to the News Agency of Nigeria (NAN), Abiodun, while presenting the budget, christened: “Budget of Sustained Growth and Development, said that the figure was made up of N415.66 billion for capital expenditure and N287.37 billion for recurrent expenditure. He said the budget also had N95.05 billion as personnel cost, N105.88 billion for overhead expenses and N59.09 billion for public debt.

“The revenue composition includes Ogun State Internal Revenue Service (OGIRS) with an estimate of N100.81 billion and other Ministries, Departments and Agencies (MDAs) estimated at N139.73 billion, totalling N240.54 billion,” he said.

The governor added that capital receipt, which included internal and external loans, as well as grants and aids, were projected at N240.24 billion.
He said infrastructure would gulp N209.122 billion, representing 30 per cent of the budget.

The governor stated that education would gulp N109.219 billion, representing 16 per cent; the health sector got N81.185 billion, representing 12 per cent, while N28.886 billion, representing four per cent of the budget, was earmarked for housing and community development.

He added that agriculture and industry would gulp N14.213 billion, representing two per cent, while N22.872 billion, representing three per cent, was earmarked for recreation and culture.

Abiodun said that in 2024, the state government would continue to accord priority to completion of all ongoing projects, the ones with revenue potentials and those that could enhance employment generation.

In his remarks, Speaker of the House, Olakunle Oluomo, appealed to the governor to consider the need for implementation of the financial autonomy for the state legislature and judiciary as required by the Constitution. He said that financial autonomy would enhance democracy and harmonious relationships with other arms of government.

The Speaker, who gave the assurance that the legislature would not take the current administration for granted, acknowledging the moral and financial support of the governor since assumption of office, said the House would give adequate attention to the budget and also accelerated passage to actualise the progress of the state.