Christened, “Budget of Sustained Growth and Development,” Abiodun said the 2024 proposed budget has an increment of N230.78bn compared to the 2023 budget of N472.250bn.
The governor, while presenting the budget, said, “A total expenditure of N703.03 billion is proposed for the State Government in 2024. The proposed expenditure comprises N287.37 billion as recurrent and N415.66 billion as Capital.”
According to him, personnel costs will gulp N95.05bn, consolidated revenue cost is N27.35bn, public debt charge will be N59.09bn, overhead cost is N105.88bn, while capital expenditure remains N415.66bn.
In his highlights of the key physical capital projects in the 2024 budget, he disclosed that the ‘Light up Ogun Project’ would include the procurement and installation of transformers statewide while partnering with the private sector to experience uninterrupted power supply in 24 months.
He mentioned that the state would host the 2024 National Sports Festival while constructing, rehabilitating, and maintaining roads across the state.
Some of the roads listed for consideration are the Lagos-Ota-Abeokuta expressway; the Ofada-Owode road; the Lagos Garage-Ikangba-Ilese road, the Ota-Lafenwa-Itele-Ayobo road; Ita Oshin-Ibara Orile-Ijoga Orile-Ibooro-Imasayi road; OPIC Estate internal roads in Agbara and others.
Abiodun added that there would be an “extension of the Lagos Blue Line Metro Rail Project into Agbara, an extension of the Lagos Red Line Metro Rail Project to Ijoko and Ifo/Kajola in line with the execution of our multi-modal transport plan under the Lagos-Ogun Joint Development Commission initiative”
He assured all of the construction of over 2,000 housing units in various locations across the State like Warewa, Sagamu, Iperu, Ibara, Ayetoro Road, OGTV Village, and Ijebu-Ode, among others.
In his sectoral analysis, Abiodun allocated N109,219.62 to education, being 16% of the entire budget, while health was allocated N81,185.66, which is 12%.
He added that housing and community development takes N28,886.43bn (4%); agriculture and industry, N14,213.03bn (2%); infrastructure, N209,122.60bn (30%); recreation, culture N22,872.69bn (3%); social protection, N28,692.08bn (4%) and general public service – executive organ N31,125.49bn (4%)
The judiciary was allocated N7,029.32bn, being 1% of the entire budget, while N14,412.07bn, 2% of the budget was earmarked for the legislature.
Statewide takes N104,114.11bn as 15% of the budget; general public service – financial and fiscal affairs, 34,954.27bm (5%); general public service and general personnel service, N1,939.79bn (0.3%); public order and safety N12,187.63, (2%) and economic affairs N3,083.22bn (0.4%).
To ensure the speedy passage of the 2024 Appropriation Bill, Abiodun told the Speaker, Olakunle Oluomo, that he had directed all Commissioners, Accounting Officers, and Heads of Agencies to be personally available for the budget defense.
“I, therefore, present the 2024 Appropriation Bill of Ogun State for your consideration and the benefit of the good people of our dear State,” he said.
