Amosun presents N210.21bn budget for 2014

November 19, 2013 11:19 PM

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Ogun State Governor, Ibikunle Amosun, on Tuesday presented a N210.21bn budget for the 2014 fiscal year to the state House of Assembly.

The proposed budget however recorded a marginal reduction of N1.57bn from the 2013 budget which was estimated to be N211.78bn.

Presenting the appropriation bill to the lawmakers, Amosun explained that the 2014 budget tagged, ‘Learner Budget of Consolidation’ was the reflection of the dwindling revenue from the Federation Account.

He said, “We encountered some challenges in the implementation of the 2013 budget. We are not insulated from the wider national economic challenges. The funds from the Federation Account and Value Added Tax have been significantly lower than expected.”

The governor however said that the performance of the 2013 budget, as of September 30, 2013, stood at 64.2 per cent.

The budget breakdown consists of N92.70bn recurrent expenditure and N117.51bn capital expenditure.

Like in the 2012 and 2013 budget proposals, the Education sector would gulp the largest allocation of N43.99bn, representing 20.93 per cent of the budget proposal.

He however added that the “slight increase” in capital allocation was a reflection of his government’s commitment to sustain the growth of infrastructure in the state while seeking efficiency in its recurrent expenditure.

The governor added that this year’s budget would enable his administration to complete ongoing projects and programmes meant to uplift the well being of the people of the state.

Earlier, the Speaker of the Ogun Assembly, Suraj Adekunbi in his welcome address had disclosed that the legislature had ensured that funds appropriated in the 2013 budget were judiciously expended on the projects they were meant for.

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Source: punchng.com

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