Senator Ibikunle Amosun,
Orji proposes N134bn
Sheriff Balogun in Abeokuta and Emmanuel Ugwu in Umuahia
Ogun State Governor, Senator Ibikunle Amosun, tuesday presented the sum of N211.86 billion for appropriation for the 2013 fiscal year, noting that it was 5.6 per cent above the 2012 Budget of N200.55 billion.
Also, Abia State Governor, Chief Theodore Orji, unfolded the fiscal policy of the state in the coming year by proposing a budget of N134,148,037,590 for 2013.
But, Amosun, while presenting the budget tagged ‘Sustainable Growth’ to the state House of Assembly, said the budget comprised N118.23 billion capital expenditure (56 per cent) and N93.64 billion (44 per cent) recurrent, maintaining that the budget proposal was a reflection of his government’s commitment for infrastructure development.
He said about N43.44 billion representing 20.50 per cent of the total budget had been allocated to the education sector, stating that about N14.72 billion (6.95 per cent) was appropriated to the health sector.
Amosun said the agriculture and forestry sectors would take the centre stage of his government activity in 2013, noting that about N10.69 billion (5.05 per cent) had been allocated to increase agricultural production and industrialisation.
He disclosed that the “IGR dropped from the N2.3 billion achieved in April 2012 to just over N1 billion in June 2012.”
Meanwhile, Orji, while presenting the budget christened ‘Budget of Hope’, said the budget represented a recurrent expenditure of about N67, 820, 454, 270 or 50.56 per cent of the total budget, while capital expenditure stood at N66,327,583,320 or 49.44 per cent of the budget.
The 2012 budget showed a marginal increase of three per cent or N4,188,712,420 over the 2012 budget which was N129,959,325,170.
Presenting the budget on the floor of the state House of Assembly, Orji said the 2013 fiscal policy was intended to achieve three main objectives namely, “continuous improvement in our revenue base and machinery for increased Internally Generated Revenue (IGR).”
He also said the 2013 fiscal policy would be directed at increasing domestic production of staple foods and essential raw materials derivable from the state as well as concentrating on completion of all ongoing projects.
The governor stated that the budget would be funded with an estimated revenue outlay of N112, 943,586,870 out of which N34,940,133,420 would be sourced from IGR, representing 26.05 per cent of total budget and 31 per cent of total revenue.
Earnings from federal allocation was put at N60, 105, 453, 439, Value Added Tax (VAT), while N10 billion was the expected earnings from derivation fund.
Reviewing the performance of the 2012 budget, the governor said it had attained 24 per cent implementation as a total of N31 billion has so far been expended by the end of second quarter. However, recurrent expenditure enjoyed better implementation as N20 billion or 34.03 per cent of budgeted N59 billion, while only N10 billion or 15.3 per cent had been spent in budgeted capital expenditure of N71.1 billion.
Speaker of the state Assembly, Hon. Ude Oko Chukwu, commended the governor for the legacy projects that he has embarked upon and promised that the 2013 fiscal policy bill would receive accelerated passage.