The economic and social sectors received top the priority in the N285 billion Appropriation Bill presented by Gov. Abiola Ajimobi to the Oyo State House of Assembly on Monday.
The appropriation bill tagged: ‘Budget of Sustainability,’ proposed N163.47 billion (57.36 %) as capital expenditure and N121.53 billion (42.64%) as recurrent expenditure.
The economic sector received 61.5 per cent while the social sector got 30.19 per cent of the total N163.47 capital expenditure in the 2019 Appropriation bill.
Other priority sectors, according to the governor were; Administration, Law and Justice.
Acknowledging that the 2018 budget performed below expectation because government could meet up with the expected revenue, Ajumobi said this year, the government would focus more on Internally Generated Revenue to finance the budget.
“The 2018 revenue performed at 27.26% instead of 75% of the approved budget and 36.34% on pro-rata as at September, while Expenditure for the same period, performed at 25.24% instead of 75% on approved budget and 33.66% on pro-rata.
“The 2018 figures show a decrease on the prior year 2017 performances which were 46.95% and 62.63% on revenue and 46.09% and 61.46% on expenditure on approved and pro-rata estimates over the same period,” he said.
He pledged that his administration would ensure the completion of ongoing road projects, while others will be left for the incoming administration to complete.
“We will work every day to the last day of our administration to ensure our projects are completed. This year 2018 has so far recorded significant achievements in every sphere.
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“These achievements have been possible through the goodwill of all well-meaning people of my administration as well as the support and cooperation of this Honourable House for the past seven and half-years.
“Oyo is a very challenging state to rule but our administration is leaving Oyo State much better than we met it. We met Oyo State a State of bricks and we are leaving it a State of Marble,’’ he said.
The governor disclosed that his administration had paid all outstanding salaries of workers in the state, promising more developmental growth before the end of his administration.
The Speaker of Oyo State House of Assembly, Hon. Olagunju Ojo, commended the governor for returning the state to the path of glory in the last eight years, pointing out that the Ajimobi-led administration had put in place several people-oriented policies that restored peace and economic growth to the state.
He disclosed that “the eight Assembly had considered 84 bills out of which 59 were passed into law. Other bills are at the state of consideration.”
He enjoined members of the State Executive Council to ensure that ongoing projects were completed.
