Home Uncategorized ABIODUN HINGES 2020 BUDGET ON FIVE STRATEGIC PILLARS

ABIODUN HINGES 2020 BUDGET ON FIVE STRATEGIC PILLARS

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The Ogun State Governor, Prince Dapo Abiodun has presented a budget of N449.97Billion to the State House of Assembly, informing that the Appropriation was hinged on five strategic pillars coined, ‘ISEYA’, standing for Infrastructure, Social Protection and Well-being, Education, Youth Empowerment, Agriculture and others.

 

Governor Abiodun, while presenting the Budget christened, “Budget to Build Our Future Together”, at the Ogun State House of Assembly Complex, Oke-Mosan, Abeokuta, said Social Protection and Wellbeing takes the lion share with N128.067Bn, representing 28 percent, Infrastructure to gulp N107.964Bn representing 24 percent; Agriculture takes N21.634Bn at five percent; Youth Empowerment takes N7.896 percent and others, N92.804Bn, representing 21 percent of the total Budget.

 

He revealed that the overall Budget proportionate performance of 2019 Budget as at October 31, 2019, stood at 36.2 percent, saying, “it was almost a routine that proposals are made but rarely fully implemented. With this in view, we have scaled up expectations and thought through how government will perform better in the coming year’’.

 

The 2020 Budget, according to the Governor, included total Recurrent Expenditure of N180.843 representing 40.19 percent and Capital Expenditure of N269.132B, representing 59.81 percent of the Budget, respectively.

 

He noted that the Budget was expected to be financed with a proposed Internally Generated Revenue of 254.946Bn; Statutory Allocation of N43.431Bn, Value Added Tax of N22.031, culminating in total revenue of N320.408Bn, representing 71.2 percent and Capital receipts of N89.706Bn and other receipts put at N39.860Bn, representing 19.94 percent and 8.86 percent, respectively.

The 2020 Budget of N449.974bn was N49.651bn higher than 2019 Budget of N400.323bn.

 

Odunayo Ogunleye & Kofoworola Idowu

Press Officers, Min. of Budget and Planning

 

OGUN EARMARKS OVER 21BN FOR AGRIC, TO BUILD AGRO PROCESSING ZONES

In pursuance of its commitment towards developing agriculture in the State, the Ogun State Government has disclosed that it has earmarked 21.634 billion naira, approximately 17percent of the total budget, for agriculture in its year 2020 budget proposal.

 

The Ogun State Governor, Prince Dapo Abiodun, who made the disclosure during the presentation of Year 2020 Budget, tagged, “Budget to Build Our Future Together”, at the State House of Assembly Chamber, Oke-Mosan, Abeokuta, said his administration had continued to intensify efforts to partner with various private companies for the general development of the State.

 

Governor Abiodun noted that the State, as an emerging mega-economy in the country and agriculture, remains one of the main stay of the State’s economy, being the largest producer of Cassava and one of the major producers of rice, maize, cashew, cocoa and others, which would help create thousands of employments opportunities and turn our teeming youths to Agripreneurs.

He explained further that government was partnering with the African Development Bank to build the largest agro processing factory in the country, to further add value to agricultural produce, which he noted would provide food security and self-sufficiency for the people of the State.

 

He declared that the State was taking giant strides in partnering with the Central Bank of Nigeria on the Anchor Borrowers Scheme, to provide income for the youths and women, as well as boost the State Internally Generated Revenue and also provide raw materials for the agro-allied and beverage industries in the State.

 

Ayobami Disu & Damilare Olubayode,

Press officers, Min. of Agric

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