Ogun State Governor, Prince Dapo Abiodun has presented a budget proposal of 339 billion Naira for 2021 fiscal year to the state’s House of Assembly.
Presenting the budget tagged “Budget of Recovery and Sustainability” Governor Abiodun said his administration was addressing revenue leakages and redirecting scarce resources to the poor and vulnerable in the state.
The proposed 339 billion expenditure comprises the recurrent expenditure of 162 billion and capital expenditure of 177 billion.
Governor Abiodun explained that the 2021 fiscal capital budget was 88 percent of aggregate capital expenditure and 46 percent of total expenditure.
He said the capital expenditure in the proposed budget would focus on completion of ongoing projects and commissioning of new projects across the state.
Governor Abiodun said the fiscal policy would be geared towards improving the efficiency and effectiveness of spending as well as achieving a better balance between capital and recurrent expenditure.
He promised to ensure equity in the distribution of projects and programmes in the proposed budget, noting that several measures had been introduced to overcome fiscal constraints, including adoption of Medium Term Expenditure Framework for year 2021 to 2023.
In a remark, Speaker of the State House of Assembly, Mr Olakunle Oluomo gave the assurance that the House of Assembly would take necessary legislative actions towards ensuring quick passage of the 2021 appropriation bill.
Insert.
The Budget presentation at Oke Mosan Abeokuta was witnessed by political leaders, government functionaries, traditional rulers and other dignitaries.
Bolanle Adesida
pub-5160901092443552
Related Posts
