Ogun State Governor, Prince (Dr) Dapo Abiodun says he wants the proposed 2020 Budget to be a springboard for implementation of his administration’s economic developmental plan, which seeks to create wealth and re-position the economic well-being of the people.
Abiodun stated this at a sensitization programme by the Ministry of Budget and Planning to enlighten stakeholders across Ministries, Departments and Agencies (MDAs) on the vision of his administration towards the preparation of year 2020 Budget.
The Governor said his administration was already undertaking necessary amendments on the Security Trust Fund, a new bill to establish Public Works Agency, the Public Private Partnership ( PPP) and Ogun Invest Promotion bills, among others, to accelerate economic and developmental plan of the southwestern state.
Harping on the focus his administration for the next fiscal year, Abiodun said the amendment bill already transmitted to the House of Assembly would ensure that the state becomes safer and more conducive for investors and investments through the provision of state-of-the-art security gadgets and equipment for security agencies. He added that similar synergies are already being planned to tighten security across southwestern states through a joint task force to be put in place by the governments of Ogun, Lagos, Oyo, Osun, Ondo and Ekiti states to address the rise in security unrests pervading the zone.
On road Infrastructure, Governor Abiodun said the attention of his administration would be shifted to developing township and rural roads to stimulate the local economy, noting that efforts are in top gear to initiate a bill that will establish the Public Works Agency in order for local technicians and professions in the building sector to create wealth for themselves.
In his words, “the proposed Public Works Agency to be established through a new bill will stimulate the local economy through employment of people living in those corridors. Gone are the days we’ll employ foreigners to undertake road constructions.”
The Governor further indicated that his administration seeks to engage more young people and provide food security through agriculture. In this regards, Abiodun said the Federal Government has endorsed and partnership with the state government and the Central Bank of Nigeria to engage 10,000 youths by making available a hectare of land for each of them.
Abiodun noted that while the CBN would assist in clearing the land, provide seedlings, the state government would render extensions services just as the CBN would ensure buyback mechanism.
On his part, the Chief Economic Adviser to the Governor, Mr Dapo Okubadejo, said that the state government has mapped out an infrastructure development plan to highlight the commitment and role of all stakeholders towards funding its projects.
Okubadejo said the plan has spelt out what would be spent by the state government, donor agencies and amount accruable from Federation Accounts and Internally Generated Revenue towards financing its projects; while the deficit would be sorted through a bond programme, adding that the state presently does not have a credit rating in the capital market. He assured that the Abiodun administration was working towards ensuring that the state is in good stead at the capital market to access funds by ensuring discipline in terms of its fiscal policies.
The Permanent Secretary, Ministry of Budget and Planning, Mr Hassan Adekunle, while appraising the mid-year budget for 2019 said the “expenditure performance as at June 2019 stood at N85.90 billion, which represents 21.46% of the total Budget of N400.32.
Adekunle said the performance of 42.92% of N200.16 billion indicated an increase in expenditure by 5.72% compared to the actual expenditure for the corresponding period in 2018.
Director of Budget Mr Akintomiwa Osibodu said that the sensitization programme was aimed at repositioning the state for challenges ahead and to deepen its revenue streams to carry on with long range commitments.