Governor Abiola Ajimobi of Oyo State on Tuesday in Ibadan presented the 2016 Appropriation Bill of N165 billion to the Oyo State House of Assembly.
Ajimobi said the Bill, tagged: “Budget of Renewed Commitment,” was crafted to consolidate government’s achievements.
He gave the breakdown of the budget as: Personnel cost, N44.77b; Overhead cost, N12.29b; Consolidated Revenue Fund Charges, N27.81b; Recurrent Expenditure, N92.37b; and Capital Expenditure N72.73b.
Ajimobi said the appropriation bill of N165 billion was a 114 per cent increase from the N77.16 billion presented in 2015.
He gave the breakdown of the expected revenue to finance the budget as Federation Account: N48 billion; Internally Generated Revenue: N76.7 billion; Recurrent: N106.68 billion; and Capital Receipts, N40.42 billion.
He said: “This budget is based on Economic, Social Services, General Administration, Urban and Regional Development sectors.
“The breakdown is as follows, Economic Sector N39.9billion (54.85%), Social Services Sector N13.60billion (18.63%), General Administration N11.20 billion (15.85%), while Urban and Regional Development was allocated N8.10 billion (11.17%).
“The aggregate percentage of 84.65 of the total budget allocated to these sectors underscores government’s determination to continue to pursue a people-oriented, empowerment-focused agenda.”
Ajimobi said four cardinal programmes of the administration “are agriculture for food security, employment generation and poverty alleviation; education and human capital development, infrastructure development; peace and security”.
He said the 2015 budget performance was 53.91 per cent
The Speaker of the House, Michael Adeyemo (APC-Ibarapa East/Ido), said the Bill would be a noble road map at directing the affairs of the government to greater heights.
Adeyemo appealed to the government not to leave out the judiciary and promised the lawmakers’ readiness to collaborate with the executive arm in moving the state forward.
NAN.
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