Ogun State Governor, Senator Ibikunle Amosun, on Tuesday,
presented a total budget of N221.129bn for the 2017 fiscal year to the State
House of Assembly.
The budget, which he titled, "Budget of Repositioning,"
represents an increase of 10.45 per cent compared with the 2016 budget.
The governor further explained that the recurrent
expenditure will gulp N102.82bn or 46.50 percent of the budget while capital
expenditure will gulp N118.306bn or 53.50 percent of the budget.
The governor added that, "Our Expenditure consists of
Capital Expenditure of N118.306bn (53.50%) and Recurrent Expenditure of
N102.823Billion (46.50%).
"Personnel Cost, made up of Salaries and Allowances
stands at N62.73 Billion while Pension and Gratuities account for N11.2Billion
which is about for 5.06% of Total Expenditure.
"The balance of N28.89 Billion which accounts for
13.07% is set aside for the Overhead Costs."
He further revealed that the 2017 budget would be financed
through Internally Generated Revenue (IGR) and revenue from the Federation
Account.
Governor Amosun added that 51.71 percent or N114.34bn of the
proposed N221.129bn budget is to be funded through IGR while N41bn or 18
percent is expected from the federations account.
Capital receipts is expected to contribute N65.78bn or 29.75
percent of the budget.
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