Governor Abiodun May Sign 2022 Budget This Week - THE DAILY CRUCIBLE

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Tuesday, December 28, 2021

Governor Abiodun May Sign 2022 Budget This Week

                             •Abiodun

The Daily Crucible | Tuesday, December 28, 2021

By Ayobami Ife, Abeokuta

Baring any delay from the - 26 - member  Ogun State House of Assembly, the Ogun State governor,  Dapo Abiodun, will sign the 2022 budget into law before the end of 2021.

Abiodun had on November 30, 2021, presented a budget proposal of N350.74billion as the 2022 Appropriation Bill to the State House of Assembly, out of which a sum of N170bn was projected for physical capital projects representing an increase of N10bn from the current 2021 budget.

And in giving a breakdown of the appropriation bill he christened: ‘Budget of Restoration’, Abiodun noted that the sum of N170bn would cater for capital expenditure, while personnel cost would take N75bn, with N51bn earmarked for overhead expenses, just as N28bn was set aside for debt service obligations to attract capital investment into the State economy. 

According to him, the physical capital projects would help chart an economic recovery growth through investment in physical projects that could create enabling environment for investment, create employment and trigger redistribution of resources while N7.7bn would be set aside for stabilization fund to insulate and position the State towards unprecedented activities or economic shocks in 2022.

He also gave insight into budget sourcing avenues, stating that an estimated N350.74bn, including N56.30bn would be be sourced through internally generated revenue, while the revenue targets of other Ministries, Departments and Agencies (MDAs) was put at N96.87bn totaling N153.17bn, adding that N73.01bn was being expected from the Federation Account, with the sum of N124.56bn to be sourced from capital receipts.

Expectedly, the Speaker of the House, Rt. Hon. Olakunle Oluomo, had promised that the House would give the fiscal proposal a speedy passage, with the aim of ensuring work continues on the infrastructural projects across the state.

Ministries, Departments and Agencies in the state have since commenced their budget defence in the Assembly.

However, The Daily Crucible learnt from a source within the state government that Governor Abiodun has been waiting anxiously for the 2022 budget to be passed by the OGHA, so that he can sign it into law before 2021 runs out.

The source explained that the governor had planned to sign the budget within the year so that its operations can commence on January 1, 2022.

The source further hinted that the governor's signing of the budget may coincide with that of President Muhammadu Buhari who also wants the budget of the country to be in effect on January 1.

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