Gov. Abiodun Presents N703bn 2024 Budget Estimate To Ogun Lawmakers
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 N472.250billion budgeted for the 2023 fiscal year.
Giving a breakdown of the budget tagged “The Budget of Sustained Growth and Development,” the governor noted that it is made up of N287.37 billion Recurrent and N415.66 billion Capital expenditures.
He explained that N95.05 billion will be used for Personnel Costs, N27.35 billion as Consolidated Revenue while N59.09 billion will go for Public Debt Charges.
Speaking further, Prince Abiodun noted that N105.88 billion is for Overhead Cost while Capital Expenditure will gulp N415.66 billion.
On sectoral allocation, he said the sum of N109.219 billion, representing 16% will go for education, N81.185 billion representing 12% will be for health, while N28.886 billion, representing four percent will be for housing and Community Development. Also, the governor disclosed that a sum of N14.218 billion, representing two per cent, will go for agriculture and industry, while N209.122 billion, representing 30%, is allocated to infrastructure.
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 Personel Service, and N12.187 billion, representing two percent for Public Order and Safety.
The governor also said that Economic Affairs will 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.
The expenditure policy of the government in 2024, the governor maintained, is designed to achieve the strategic objectives of the Ogun State Economic Developmen