OGUN FINANCE MINISTRY TO EXPEND OVER N21BN IN 2024
Ogun State Ministry of Finance has assured it would continue to mobilise all machineries towards formulating financial policies and regulations that would increase government revenue, sustain fiscal objectives and sound management of finances.
Commissioner for Finance, Mr. Dapo Okubadejo, who disclosed this while presenting the 2024 budget estimates before the state lawmakers at the Assembly Complex, Oke-Mosan, Abeokuta, explained that the next fiscal year would witness an expansion of the state revenue base and networking, saying the Ministry remained committed to transforming Internally Generated Revenue, with less dependence on federal allocation, through provision of dynamic and excellent leadership.
The Commissioner, represented by the Permanent Secretary in the Ministry, Mufutau Towolawi, noted that more strategies were being put in place towards promoting fiscal discipline through efficient budget practices, prudent debt levels and ensuring value for money.
He defended the Ministry's total budget expenditure for next year to the tune of N21.229bn, with capital projects taking N1.639bn, while the remaining N19.58bn would cater for Recurrent Expenditure, just as the revenue target was put at N14.981bn.
Other agencies that defended their budget proposals included, the Ministry of Budget and Planning, led by its Commissioner, Mr. Olaolu Olabimtan, Signage and Advertising Agency, House of Assembly and the House of Assembly Service Commission, among others.
Jamiu Lawal,
Head, Information Unit, OGHA
PHYSICAL PLANNING MINISTRY, OTHERS DEFEND 2024 BUDGET
Ogun State Commissioner for Physical Planning and Urban Development, TPL. Tunji Odunlami, has presented a total budget proposal of N1.290bn for the next fiscal year.
TPL. Odunlami clarified that of the total budget, the sum of N999.9m would go for Capital Expenditure, while the remaining N290m was earmarked for Recurrent Expenditure for next year.
On his part, Commissioner for Housing, Jagunmolu Akande Omoniyi, said government was committed to addressing housing deficits among residents, while taking advantage offered by Public Private Partnership arrangements, hinting that the Ministry would construct about 10,000 affordable housing units for residents next year.
He thereafter defended the Ministry's total budget proposal of N2.342bn for the next fiscal year, out of which N1.799bn would go for capital projects, while the sum of N542m would go for recurrent expenditure.
Other agencies that had their 2024 budget proposals considered by the lawmakers included, Housing Corporation, Ministry of Forestry, Ministry of Agriculture and Bureau of Lands and Survey, among others.
Jamiu Lawal,
Head Information Unit, OGHA
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