Governor Ibikunle Amosun of Ogun State yesterday presented the 2019 budget estimate of N402.63 billion to the House of Assembly. This represents 17 per cent increase of last year’s estimate, which was N345.4 billion.
Education got the lion’s share of N88.57 billion (22 per cent).A breakdown of the “Budget of Enduring Legacy” shows that N254.005 billion (63.1 per cent) was allocated to capital expenditure, while personnel cost, which consists of pension and gratuities, took N22.20 billion.
Salaries and allowances got N74.43 billion while recurrent expenditure got N148.57 billion.The overhead cost is fixed at N41.447 billion.
Amosun said that N161.24 billion of the budget would be sourced through internally-generated revenue (IGR), N42 billion from the federation account, while “N101.38 billion is expected from capital receipts, with other receipts providing N80 billion (19.8 per cent) of the total funding.”