Ogun State Governor, Prince Dapo Abiodun, on Thursday, presented N703.03 billion budget proposal for the year 2024 to the state House of Assembly.
The budget tagged ‘The Budget of Sustained Growth and Development,’ is N230.750 billion higher than the N472.250 billion budgeted for the 2023 fiscal year.
Giving a breakdown of the budget, the governor noted that it is made up of N287.37 billion recurrent and N415.66 billion capital expenditures.
Abiodun explained that N95.05 billion will be used for Personnel Costs, N27.35 billion for Consolidated Revenue while N59.09 billion will be used for Public Debt Charges.
According to him, N105.88 billion is for overhead cost while capital expenditure will gulp N415.66 billion.
Speaking on sectoral allocation, the governor said the sum of N109.219 billion, representing 16 percent will go for education, N81.185 billion representing 12 percent will be for health, while N28.886 billion, representing four per cent will be for housing and Community Development.
Others are N14.218 billion, representing two per cent for agriculture and industry, while N209.122 billion, representing 30 percent, is for infrastructure.
“The physical capital projects in the 2024 budget include; Light up Ogun Project to include procurement and installation of transformers statewide whilst partnering with the private sector to experience uninterrupted power supply in 24 months. The Hosting of the 2024 Ogun National Sports Festival.
“Construction, rehabilitation, and maintenance of roads across the state, including major ones such as Lagos–Ota-Abeokuta Expressway; Ofada-Owode Road, Lagos Garage – Ikangba – Ilese Road, Ota-Lafenwa-Itele-Ayobo Road; Ita Oshin, Ibara-Orile-Ijoga Orile – Ibooro – Imasayi Road, OPIC Estate Internal Roads, Agbara, 250km Statewide construction in all three (3) senatorial districts road infrastructure to support the 2024 Ogun National Sports Festival,” he said while highlighting the key capital projects for year 2024.
The governor hinted on his administration’s plans to extend the Lagos Blue Line Metro Rail Project into Agbara, as well as the extension of the Lagos Red Line Metro Rail Project to Ijoko and Ifo/Kajola in line with the execution of the State’s multi-modal transport plan under the Lagos-Ogun Joint Development Commission initiative.
“Our administration will construct over 2,000 housing units in various locations across the State like Warewa, Sagamu, Iperu, Ibara, Ayetoro Road (Abeokuta), OGTV Village, Ijebu-Ode, etc. Water reticulation projects to connect more households to potable water supply having completed the Urban Water Supply Project.
“Training the youth on Digital Solutions to enhance youth involvement in Agriculture. Refurbishment and renovation of technical colleges and vocational centers.Construction and Rehabilitation of Blocks of Classrooms, Technical Workshop/Science Laboratory at the Primary and Secondary Schools with the provision of furniture and equipment across the Four (4) Divisions in the State,” he added.