The Ogun State Governor, Dapo Abiodun, on Tuesday presented N449.974bn budget proposal to the state House of Assembly.
Abiodun, who christened his maiden budget proposal as ‘Budget to build our future together’, said the appropriation bill reflected his determination to deliver on the electoral promises he made.
He said, “We, therefore, propose an estimated expenditure of N449.974bn. Our proposed expenditure consists of capital expenditure of N269.132bn, which is 60.31 percent, and recurrent expenditure of N180.842bn, which is 39.69 percent, while N83.238bn is allocated for salaries and allowances.”
The governor added that pension and gratuities accounted for N25.945bn, which is 18 percent of total expenditure.
“The balance of N71.659bn, which accounts for 16 percent, is set aside for overhead costs,” he said.