The Executive Governor of Ogun State, Sen. Ibikunle Amosun, yesterday presented a total sum of N345.42 billion as the 2018 budget estimate of the State to the House of Assembly.
The budget, termed ‘’Budget of Accelerated Development’’ shows an increase of 57 per cent over the 2017 budget of N221.09 billion.
Gov. Amosun explained that 64.77 per cent of this budget totaling N223.721 billion was for capital expenditure while the balance of 121.698 billion naira was recurrent expenditure.
Further analysis of the budget revealed education to be having the lion share of the budget with a total sum of N79.246 billion naira followed by Employment Generation and Housing and Urban Renewal with a budget size of N73.606 billion and N45.733 billion respectively.
The Health Sector is given N21.199 billion while the agricultural sector and industrialization will make do with N21.137 billion among others.
Presenting the budget to the house of assembly, the governor disclosed that as the last full year budget for his administration, the budget would further be used to accelerate development in the state through the five cardinal programmes of affordable and qualitative education, efficient healthcare service, affordable housing and urban renewal, rural and infrastructural development as well as employment generation.
He added that the recently approved $350 million World Bank loan by the Senate would be expended on the agricultural production and industrialisation programme of the government and that only a fraction of it would be utilised by his adiministration.
The governor disclosed further that the 2018 budget would be used to drive massive rural development especially in the area of road construction while some on going roads project such as Sagamu-Ogijo road, Ilisan-Ago Iwoye road, Sango-Ojodu road, Atan-Agbara road among others would receive adequate attention.