Ogun State Governor, Prince Dapo Abiodun, has presented a N339bn budget proposal for the 2021 fiscal year to the state House of Assembly.
Named “Budget of Recovery and Sustainability”, the governor projected a sum of N119bn from Internally Generated Revenues and N59bn coming from the federation account, while capital receipt was fixed at N142bn, comprising internal and external loans including grants and aid.
The budget proposal has N162bn for recurrent expenditure and N177bn for various capital projects for the next fiscal year.
The overhead cost of Ministries, Departments, and Agencies was put at N50bn, which represents an increase of N11bn over N39bn in 2020.
The governor also said the state had made a provision for the sum of N28.4bn for debt servicing in 2021, representing an increase of N13bn over N15.7bn in 2020.
A breakdown of the proposal showed that education sector was allocated N58bn; N75bn was proposed for economic affairs.
The governor said N49bn would cater for general public services, while health would gulp N35bn, with housing and community amenities having N28bn allocation.
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