The Oyo State Governor presented a N152 billion budget proposal.
The Oyo State Governor, Abiola Ajimobi, on Monday presented a N152 billion budget proposal for the 2013 fiscal year before the state House of Assembly.
Tagged “Budget of Transformation”, the bill allocated N82.97 billion representing 54.55 per cent for recurrent expenditure and set aside N69.15bn representing 45.1% for capital expenditure.
Reiterating his desire to restore, transform and reposition the state to its former pacesetter status over the medium-term, Mr. Ajimobi noted that the budget is carefully packaged to achieve some of his mission for the state.
He said 60.39 per cent is ceded to the economic and social services sectors to underscore 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.
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.
The governor said the 2013 budgetary proposals is anchored on some policy thrust and philosophy, including realism of budgetary proposal, ‘prioritization and calendarisation’ of capital budget implementation, and entrenching value-chain approach to sectoral development, saying the focus is on areas such as agriculture and investment promotion.
He also promised to pursue an aggressive Internal Revenue Generation through more effective and efficient tax administration as part of strategies to source for fund to finance the budget.
He said the state will this year extend tax net to those hitherto outside the net and intensify the public-private-partnership framework for the provision of adequate semi-public goods and services.
“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.
Speaking on his government’s effort to make the state clean, the governor said, “as we move traders from the streets, under the bridges and tension wire, we have commenced construction of neighbourhood markets with modern facilities where our traders and their clients can buy and sell with relative comfort”.
Also speaking, the Speaker of the Assembly, Monsurat Sunmonu, promised that her members would continue to support and cooperate with the executive arm of government.
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