2024 Budget: Ogun to spend 30 percent on Infrastructure
The Ogun State Government said 30 per cent of its 2024 Budget, amounting to N703,028 billion will be expended to provide modern infrastructure to the residents.
Abiodun, while presenting the budget before members of the state House of Assembly said the 2024 Budget, christened “Budget of sustain growth and development” was prepared to sustain the ISEYA mantra.
While addressing the lawmakers, the governor said N415 billion is estimated as capital expenditure while N287 billion is earmarked as recurrent expenditure.
In the budget, education got N109. 2 billion while N81,185.6 billion was budgeted for health amongst others.
He said a total expenditure of N703.03 billion is proposed for the State Government in 2024.
The governor noted that his administration’s principal objective in 2024 is to maintain and enlarge our economic base while being strategic toward harnessing economic opportunities in the outer years.
He said “The 2024 Budget proposal is the fifth prepared by this Administration. It reflects the serious challenges currently facing our State, the key reforms necessary to address them, and imperatives to achieve higher, more inclusive, diversified, and sustainable growth.
“The expenditure policy of the Government in 2024 is designed to achieve the strategic objectives of the Ogun State Economic Development Plan and Strategy 2021 – 2025, including fiscal sustainability; human development; food security; improved business environment; energy sufficiency; improving transport infrastructure; and promoting industrialization focusing on Small and Medium Scale Enterprises.
“Discussions are ongoing regarding the exploration of oil in Tongeji Island, Ipokia Local Government Area, and Olokola, in Ogun Water-Side Local Government Area. We are confident that very soon, we will be given frontier status and will soon join the League of Oil-producing States.
“Education remains the bedrock of any nation. As such, we are committed to revitalizing the Education Sector. As a strategic move, we shall be having an Education Summit in the first quarter of the new year where numerous challenges facing the sector will be considered with a view to repositioning the quality of education in the Ogun State.
Earlier in his address, Speaker of the state Houses of Assembly, Hon. Kunle Oluomo stressed that the people of the state cannot deny the governor’s monumental achievements since his assumption of office in 2019.
Oluomo urged the governor not to relent in his effort to actualise the dream of the state.
