Categories: Business

Ogun gov presents N339bn 2021 budget to state assembly

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.

 

 

 

 

 

Trends Admin

Recent Posts

Man arrested in Lagos for vandalising electronic road sign

Man arrested in Lagos for vandalising electronic road sign The Lagos police command says its operatives have…

9 hours ago

Russia vows ‘tangible’ response against US missiles on its territory

Russia vows 'tangible' response against US missiles on its territory Russia says the use of US…

9 hours ago

Tinubu restructures media team, says no individual presidential spokesman

Tinubu restructures media team, says no individual presidential spokesman   President Bola Tinubu has reorganised…

10 hours ago

Portland Gas secures licence for CNG conversion centre

Portland Gas secures licence for CNG conversion centre In a move to accelerate Nigeria’s transition to…

10 hours ago

EFCC says Nigerian lawyers, Int’l investors colluding to loot national treasury

EFCC says Nigerian lawyers, Int'l investors colluding to loot national treasury EFCC chair Ola Olukoyede says…

10 hours ago

FBI arrests mastermind of Borno terrorist attack on Nigerian soldiers

FBI arrests mastermind of Borno terrorist attack on Nigerian soldiers The federal law enforcement officials in…

10 hours ago