The Ogun State Governor, Prince Dapo Abiodun has proposed a budget estimate of N449.974 billion for year 2020 to members of the State House of Assembly.
Governor Abiodun presented the budget christened, “Budget to Build Our Future Together”, at a Plenary presided over by Speaker, Rt. Hon. Olakunle Oluomo, at the Assembly Complex, Oke-Mosan, Abeokuta, saying the fiscal estimate was targeted at reflecting the present administration’s determination to deliver on its electoral promises to the people.
Giving the breakdown of the budget, the Governor explained that N269.132Bn, representing 60.31 percent was proposed for capital projects, with N180.842Bn, which represented 39.69 percent, set aside for recurrent expenditure, adding that salaries and allowances stood at N83.238Bn.
He also stated that pension and gratuities would take N25.94Bn, representing 18 percent of total expenditure, with the balance of N71.659Bn, being 16 percent of the total budget earmarked for overhead cost.
Governor Abiodun said government would formulate policy thrust for holistic actualization of the budget towards localising the Sustainable Development Goals (SDGs) through the Public Private Partnership initiatives, for a workable public financial management system to eliminate leakages at ensuring efficient and judicious use of the State’s economy.
According to the Governor, other action plans to be put in place includes, full automation of the State’s finance functions, strict adherence to the proposed fiscal responsibility law, instituting credit rating by internationally accepted rating agencies, strengthening internal audit functions, while ensuring timely publication of audited accounts.
He noted that some of the workable financial management system being put in place to eliminate leakages for efficient management of the State’s Commonwealth, said efficient monitoring and blocking of loopholes would be pursued, as the administration was ready to walk the talk to bring dividends of democracy to the people.
Prince Abiodun noted that the State Debt Management Strategy was currently under review, just as he had issued Executive Order for the establishment of Fiscal Responsibility Commission for prudent financial management of the State resources.
He said the administration has carried out Staff Biometrics and Payroll Audit, implemented Treasury Management Solution for simple review and efficiency in treasury and payment processing, adding that the steps have helped to achieve prudent management of the State resources, which has attracted financial support from financial institutions, multilateral agencies and partners.
Earlier in his welcome address, the Speaker of the State House of Assembly, Rt. Hon. Olakunle Oluomo, remarked that the 2020 Budget presentation was a constitutional requirement, in line with Sections 121 of the Constitution of the Federal Republic of Nigeria, as amended, aimed at giving the citizens an insight into the lofty dreams of the present administration towards making the State a model in the comity of States.
Oluomo noted that the strides and solid foundations laid in all sectors of the State’s economy since inception of the present administration was a pointer to the massive growth and development that would be witnessed under the Prince Dapo Abiodun-led administration.
Acknowledging the roles of media in the promotion of good governance in the State, Oluomo stated that the Ninth Assembly, which had so far passed eight bills and ten resolutions, with more commitments to high level performance, would kick against the Hate Speech Bill, as it would gag the press and the masses, thereby preventing them from expressing themselves in a democratic setting.
He assured of continuous robust relationship among the legislature and other arms of government through enactment of more people oriented- legislations, saying the Assembly would keep to its tradition by giving attention to the budget proposal within the time frame, while facilitating the provision of more infrastructural facilities towards adding value to the standard of living of the people.
In attendance at the event were the State’s Deputy Governor, Engr. Noimot Salako- Oyedele, Secretary to the State Government, Tokunbo Talabi, Chief of Staff, Shuaib Salisu, former Governor, Otunba Gbenga Daniel, Former Military Administrators, including Gen. Oludayo Popoola, Gen. Ekundayo Opaleye, Lt. Col. Daniel Akintande, Navy Capt. Rasheed Raji, Former Deputy Governors, Salimotu Badru and Gbenga Kaka.
Others are former Speakers, Rt. Honourables Suraju Adekunbi, Tunji Egbetokun and Muyiwa Oladipo, Paramount Ruler of Egbaland, Oba Adedotun Aremu Gbadebo, Paramount Ruler of Yewaland, Oba Kehinde Olugbenle, representatives of Awujale and Dagburewe of Idowa, Oba Yinusa Adekoya, Akarigbo and Paramount Ruler of Remoland, Olota of Ota, Oba (Prof) Adeyemi Obalanlege, the State Head of Service, Engr. Lanre Bisiriyu, Retired Heads of Service, Body of Permanent Secretaries in the State, party stalwarts, including State Party Chairman, Yemi Sanusi, Former Gubernatorial Candidate, ADC, Prince Gboyega Isiaka and former lawmakers, among others.