Oborevwori said the budget tagged, ‘Budget of Hope and Optimism,’ is made up of recurrent expenditure of N316.6 billion representing 44 per cent and capital expenditure of N397.9 billion which represents 56 per cent of the total budget.
He said, “This administration will embark on the construction of more critical road infrastructure in the 2024 fiscal year because we are irrevocably committed to advancing urban-rural integration.
“In 2024, we propose to spend N150 billion on road infrastructure for the Ministry of Works; N46.55 billion on Education; Health will gulp N18.65 billion; Agriculture, N7 billion and Urban Renewal, N7.5 billion.
“Environment will gulp N2.1 billion and Youth Development, N1.7 billion. These key sectors are essential in our 2024 budget.”
Oborevwori added, “This administration is focused, process-driven, and result-oriented in its governance style. The progress that we have made in the last five months should give hope to our people that the goals we have set in this budget will be pursued with similar zeal and dedication.
“Rest assured, this administration is determined to see our people through the hard times, doing all that we can to assist the poor and vulnerable.”
The governor said that the 2024 budget proposal, his first since coming to office, was envisioned to put the economy on the path of sustainable growth, boost investments and productivity, enhance the ease of doing business, and provide ample opportunities for the average citizen to participate in the economy.
He also stated that the personnel cost of N150 billion provided in the budget was in anticipation of the domestication of a likely salary increase by the Federal Government sometime in 2024 while the overhead cost mirrors the inflationary trend in the country.
The Speaker of the State House of Assembly, Emomotimi Guwor, said the budget presentation was historic as it was the first budget being presented by the governor who was the immediate past Speaker of the House.
Guwor said the House would ensure that the budget substantially complies with the international public sector accounting standard.
