Mr Abimbola Adekanmbi, the Oyo State Commissioner for Finance and Budget, on Monday said the economic and social sub-sectors took 72.27 per cent of the 2018 Appropriation Bill sent to the House of Assembly.
Adekanmbi said this in Ibadan while presenting an analysis of the fiscal proposal.
The News Agency of Nigeria (NAN) reports that Gov. Abiola Ajimobi had on Dec. 14, 2017, presented a N267 billion Appropriation Bill to the assembly.
The commissioner said N46.62 billion was for the economic sector, 25.65 billion for Social Services Sector; N7.6 billion for General Administration while N880million was devoted to Law and Justice Sector.
“The 2017 budget did not perform as expected, but we are hopeful that the 2018 will be much better,’’ he added.
Adekanmbi said that the budgetary allocation to the sectors underscored the state government’s determination to continue to pursue people-centered and empowerment focused agenda.
“We consider this as the best antidote to address the problem of poverty among our people.
“Government would continue to create an enabling environment for creation of wealth and economic empowerment for individuals,” he said.
The commissioner said that the fiscal management strategy of the administration was to encourage ventures that would stimulate increased income generation.
He said it was also to encourage ingenuity that would sustain the state on the path of self-reliance, adding that many more avenues had been created in the budget for economic empowerment.
Adekanmbi said the budget would be financed from unspent income, IGR, statutory allocation from Federal Government, capital receipt and transfer from Local Government JAAC.
“Unspent Income brought forward is N10.4billion, N112.1 billion is expected from IGR, N94.4billion Statutory Allocation from Federation Accounts, N43.7billion for Capital Receipts and N6.7billion from Local Government JAAC Transfer,” he said.
He said that the state government was committed to the completion of ongoing road projects and commencement of new road initiatives.
The commissioner said among ongoing road projects to be completed are dualisation of Ibadan-Oyo/Iseyin-Oyo Junction; Ilorin Express Junction-Ikoyi-Takie-Palace-Ogbomoso and Iresaapa.
Other road projects are Efunsetan Roundabout-Podo Roundabout-Toll Gate Interchange Phase 2; rehabilitation of Elewuro Onireke-Apatuku-Olodo Phase 1 and dualisation of Idi Ape-Bashorun-Akobo Ojurin-Odogbo barrack.
The commissioner also said government would dualise the Agodi Gate-Alakia New Airport road, Saki Township-Ilesha Ibariba/Kwara State border road and Expansion of Oke Adu-Idi Ape-Iwo road.
There was, however, no allocation to Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, co-owned by the state government.
The presentation was attended by Prof. Adeniyi Olowofela, Commissioner for Education, Science and Technology as well as Mr Toye Arulogun, the Commissioner for Information, Culture and Tourism. (NAN)
