Amosun presents 2016 budget to Assembly

Ogun State Governor, Ibikunle Amosun yesterday presented a budget of N200, 274, 453, 352 billion for the 2016 fiscal year.

The Governor presented the budget, tagged “Budget of Optimisation” to the 26-member House in the presence of a large number of members of the public.

He stated that the budget was less than the 2015 budget of 210billion, disclosing that capital project is expected to gulp about N99billion while recurrent expenditure would have N100, 962,975,409billion, representing 50.4percent of the total budget.

He disclosed that the budget would be funded by N108billion representing 59percent of the total budget from the Internally Generated Revenue (IGR), N42b expected from the Federation Account and N10billion from grants.
His words, “This budget will support both the maintenance of existing infrastructure and also allow the continued execution of more capital projects.”
A breakdown of the budget indicated that education, health, agriculture and housing would have 41.1billion (20.06percent), 14.3billion (7.13percent), 10.2b (5.08percent) and 26.5billion (13.27percent) respectively.

Others include Rural and Employment Generation 31.04billion (15.5percent) and others. Infrastructural development has 77.97billion or 38.93percent.

Amosun while giving the analysis of the proposed budget said “Our expenditure comprises capital expenditure of N99.29billion (49.6percent) and recurrent expenditure of N100.98billion (50.4percent).”

The Governor said, “Despite dwindling funds allocated from the Federation Account, decisive and pragmatic steps must be taken as we seek to actualise our goals in Ogun State.”
“We shall continue to demonstrate prudence whilst also exhibiting financial resourcefulness to ensure that on-going projects across the State are completed.
“Fundamentally, we must intensify efforts to deliver on our Internally Generated Revenue (IGR) targets in a manner that does not overburden of inconvenience our people whilst being supportive of our collective goals”.

He added “We placed great emphasis on capital expenditure during our first term, in line with our development objectives. Our emphasis has now shifted a little and the budget this year is balanced between capital and recurrent expenditure.”
The Governor also disclosed that any move against the reduction of the N18, 000 minimum wage would not be accepted by him.

Amosun condemned the agitation for reduction of the minimum wage by some Governors in the country, saying he would not join in the call for such reduction.
The Governor used the opportunity to appreciate the people of the State for their support for his administration so far.
The Speaker of the House, Hon. Suraj Adekunmbi in his speech said the House would give speedy response to the bill, adding that the people of the State should support the administration, as the Governor meant well for the State.

“It is gladdening and commendable to mention that the House has been able to conduct its legislature business till date without any rancour or disharmony amongst member despite the heterogenous nature of political party representation in the Assembly,” he explained.