By Niyi Olutunde, Akure
The Ondo state governor, Oluwarotimi Akeredolu, has presented before the state House Of Assembly, a budget size of One Hundred and Ninety Billion naira for the year 2019.
Akeredolu, who tagged the budget, “Budget of Advancement” said the presentation of 2019 budget represents an increase of 4.74% with that of 2018.
He stressed further that the budget presentation became imperative in order to complete ongoing projects being embarked by his administration in the state.
“The objectives for the 2019 budgets are basically on the completion of ongoing projects, innovative and integrated approach to drive government revenue through technology to increase actual independent revenue by at least 50% and also sustain the expansion of the fiscal space and rejig the economy through strategic wealth creation for the productive sector among others”, he said.
According to him, Akeredolu said “a total of 82.179 billion naira or 43.2% has been budgeted for Recurrent Expenditure in the next fiscal year, as against the 48.87% recorded in the current fiscal year. This is our deliberate decision to cut down the cost of governance in favour of capital development.
He therefore highlighted the strategies to be adopted in achieving the objectives through : Constitution of economic Advisory Team and Efficiency unit for the state, Compliance with global best practices in fiscal in Allocation and Management and deployment of ICT to drive Independent Revenue (IR), empower and create wealth for our productive sectors.
The Governor however, said the 2019 budget deliberately structured to focus on the developmental agenda of the administration as encapsulated in the strategic Development and policy implementation document known as Blueprint to progress.
The capital expenditure was pegged at #87.906b and Debt repayment /statutory transfer at #9,568b totalling #190.023b
He therefore promised that, all the ongoing road projects would soon be completed, mostly those within the state capital.
Akeredolu also appealed to the people of the state to show understanding in order to transform the state better.
In his remarks, the Speaker, Mr Bamidele Oleyelogun promised that the house would give expeditions and necessary approval to the budget, adding that the house would support the effort aimed at implementing the budget for the benefits of the people of the state.
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