The Ogun Government plans to spend 65 percent of its 2013 budget on the execution of its five cardinal projects, while the remaining 35 percent is being dedicated to other sectors.
Commissioner for Budget and Planning, Mrs Oluwande Muoyo who dropped this hint today in Abeokuta during the budget breakdown session indicated that the 2013 budget is 6% greater than that of 2012, saying the increase was a reflection of Government’s desire to pursue the five-cardinal programmes vigorously.
She revealed that the sum of N138.3b would be expended on the provision of affordable qualitative education and efficient healthcare delivery.
Muoyo also disclosed that other areas to be given prime attention in the year include agricultural production and industrialisation, affordable housing and urban renewal as well as rural and infrastructural development and employment generation.
Giving a general breakdown, the Commissioner explained that in this fiscal year, the State Government would spend the total sum of N211.8b, pointing out that out of this, N116.9b is to be spent on capital expenditure, while the balance of N94b is for recurrent expenditure.
On sources of funding the budget, the Commissioner disclosed that the State intends to generate 35% through Internally Generated Revenue, 30%through Capital Receipts while the balance of 35% is expected to be sourced from the Federation Account.
Mrs. Muoyo also announced that following its aggressive pursuit, the State Government was able to generate the sum of N3b last December, adding that the sale of land accounted for only one third of this amount, while the balance was generated through recurrent sources such as taxes and levies.