The Ogun State Governor, Dapo Abiodun has presented the 2022 appropriation bill of N350.74 billion to the Ogun State House of Assembly.

According to DAILY POST, the bill which is tagged ‘Budget of Restoration’ was presented to lawmakers at the Assembly Complex, Oke-Mosan, Abeokuta. Information Guide Nigeria 

The ceremony was presided over by the Speaker, Olakunle Oluomo, Abiodun who reiterated his determination to give priority attention to the completion of existing projects, projects with revenue potential, and projects that can enhance employment generation.

DAILY POST reports that Governor Abiodun said the total state funding is estimated at N350.74 billion in 2022.

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Abiodun said, “includes Ogun State Internal Revenue Service (OGIRS) estimates of N56.30 billion and other Ministries, Departments and Agencies (MDAs) estimated at N96.87 billion totaling N153.17 billion.

“Statutory allocation (i.e. FAAC and VAT) is expected to be N73.01 billion while the capital receipt is estimated at N124.56 billion (i.e. Internal and External loans including Grants and Aids etc).

“The aggregate expenditure of N350.74 billion is proposed for the State Government in 2022.”

DAILY POST reports that under recurrent expenditure, a total of N75B is to be expended in paying salaries and allowances in MDAs; N28b on debt service obligations and N51b on total overhead costs of MDAs and government-owned enterprises.

For capital expenditure, Abiodun said N170 billion is budgeted, being an increase of N10 billion over the 2021 approval of N160 billion.

According to the governor, a total sum of N7.7billion is provided for transfers to the Stabilization Fund to insulate and position the State towards unprecedented activities or economic shocks. Jamb result

Education gulps N56,071.21b, representing 16 percent; while Health takes N35,073.51b, being 10 percent.

DAILY POST reports that Infrastructure takes the largest share of N77,775.77, which is 22 percent of the budget.

The Assembly is expected to legislate on the appropriation bill and return a clean copy to the governor for his assent.