Ogun State Government has allocated five percent of its 2021 approved estimates, christened ‘Budget of Recovery and Sustainability’, put at N338.610bn, to COVID-19 management, just as 70 percent of the State population is being targeted for vaccination.
This came to the fore at a media parley in Oke-Mosan, Abeokuta, which had in attendance, the State Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, as well as Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, along with other Commissioners in relevant agencies.
The Commissioner for Health, Dr. Tomi Coker, during an interaction with journalists at the event, explained that the State government intervention in combating COVID-19 pandemic is multi-sectoral, as it cuts across Ministries, Departments and Agencies (MDAs).
Coker revealed that logistics is a critical issue the State is presently addressing, towards achieving a successful vaccination, promising that the government would keep the people informed, as plans for the exercise develops.
Also speaking, Olabimtan stressed that 51 percent of the total budget representing N172bn has been earmarked for capital expenditure, while the remaining 49 percent is allocated to recurrent, representing N167bn.
He added that the structure of the State revenue for the year under review, indicated that N119bn would be realised from Internally Generated Revenue (IGR), just as statutory allocation is estimated at N59bn, while capital receipt is expected to be N142bn, including internal and external loans, as well as grants and aid.
The Commissioner also hinted that ‘’towards achieving good practice in public financial management, government had adopted for the second year running Medium-Term Expenditure Framework (MTEF), for years 2021-2023.
‘’In addition, and for the first time, we have also introduced Medium-Term Revenue Strategy (MTRS), a major shift in budget preparation process, which focuses on the expenditure, with a greater emphasis on revenue driven model’’.
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