Ogun State Governor, Dapo Abiodun, yesterday presented a budget proposal of N339 billion for the 2021 fiscal year to the state House of Assembly for approval. The budget christened; “Budget of Recovery and Sustainability,” has a reduction of N110.974 billion, representing 25 per cent of the N449.974 billion 2020 budget. Thegovernorsaidthe2021 appropriationbillhighlighted thekeysectorsandbudgetary allocationsfor therapiddevelopment of the state.
“The investment focus of this government is to gradually reduce the identified infrastructure gap as well as provide fiscal stimulus to lift demand and help the state in its economic recovery process,” he said. The governor noted that in achieving this, the state Medium Term Sector Strategy (MTSS) approach based on a modified zero-based budgeting framework was emplaced to provide “a profiled budget stating the various expenditure headings and cost allocated over the three years.”
The MTSS, he said: “Includes the approved programmes upon which expected level of completion over the period is monitored… in allocating envelopes to different sectors and MDAs, noting that priority has been given to completion of existing projects, projects with revenue potential, projects consistent with priorities articulated in the state Economic Development Strategy and to projects that can enhance employment generation.
Abiodun said the budget was meant to address the COVID-19 pandemic, the #EndSARS protests, the general feeling of disenchantment in the polity, the socio-economic yearnings of the Ogun State people for good governance, as well as the stringent calls in all societal spheres for a more representative democracy that speaks to the issues of economic growth, consistent progress and equitable quality of life.
The budget comprised recurrent expenditure of N162 billion (48 per cent of the total budget) and a capital expenditure of N177 billion (52 per cent) “as dictated by best practices to drive our developmental objectives.” Highlights of the budget included infrastructure, N61 billion; social welfare and wellbeing: N93 billion (includes Health, Housing, Environment, Physical Planning, Women Affairs etc); Education, N58 billion; Youth Empowerment, N6 billion; Agriculture, N15 billion and Enablers N106 billion. Abiodun said the state would also set aside N12 billion for stabilisation fund and N10 billion for public debt charges.