Oyo presents N152b budget proposal for 2013

AbiolaAjimobi

OYO state governor Senator Abiola Ajimobi has presented before the State House of Assembly, a N152 billion budget proposal for the 2013 fiscal year.

Determined to ensure a transformed Oyo State, Ajimobi in the budget proposal tagged "Budget of Transformation" said that the proposal was guided by his administration’s desire to restore, transform and reposition the state.

The sum of N82.97 billion, representing 54.55 per cent, was allocated to recurrent expenditure, while the capital expenditure gulps N69.15bn representing 45.1 per cent of the budget.

The sectoral allocation consists of economy (including infrastructure) 36.26 per cent; Social Services 24.13 per cent; General Administration 25.46 per cent and Regional Development, 14.15 per cent.

In the estimation of the governor, the high percentage of 60.39 per cent allocated to the economic and social services sectors underscores his administration’s determination to pursue a people-centered, employment-driven economic agenda.

"We consider this strategy as the best antidote to the problem of poverty among our people", he said.

Aside the government's policy thrust focused on agriculture and investment promotion, Ajimobi also said that the public-private-partnership framework his administration had embarked on would be intensified towards the provision of adequate semi-public goods and services.

Believing that achievement of the contents of the budget proposal depended greatly on aggressive Internal Revenue Generation (IGR) through more effective and efficient tax, Ajimobi while addressing the House, led by the Speaker, Hon. Monsurat Sunmonu, said, "We will come back to this House shortly to request for necessary legislative muscle, not only on taxation, but also on other sundry regulatory issues that are due for review or to be proposed,’’ he said.

Governor Ajimobi recalled the enormous challenges, which had confronted his administration on assumption of office in May 2011, boasting however that solid foundation had been successfully laid for the restoration of the state to its pace setter status.