Mimiko presents N151bn budget

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By DAYO JOHNSON

Akure — GOVERNOR Olusegun Mimiko of Ondo State yesterday presented the 2013 appropriation bill estimate of N151bn to the state House of Assembly for approval.

This year’s appropriation bill, N6bn lower than that of last year, is meant for further consolidation of the gains of the last four years.

The 2013 estimate, according to Mimiko, has N73.35bn as recurrent expenditure, while it has N77.65bn earmarked for capital expenditure.

The capital expenditure was said to be inclusive of the N10.24bn set aside for the Ondo State Oil Producing Areas Development Commission (OSOPADEC).

The bill is expected to be financed with N43bn from statutory allocation, Internally Generated Revenue N12bn, Value Added Tax (VAT) N10 billion, rolled over fund N7bn, bond N23bn, while N6bn would be sourced from grant and credit from development partners.

Mimiko said that other sources of fund for the budget include N10bn from excess crude account, Education Trust Fund N2bn, loans/leases N15bn, sundry income/divestment N1bn while N2bn is expected as refund from Federal Government on repairs of federal roads.

The sectoral allocation of the budget showed that N23.093bn was allocated to economic; social services got N24.042bn while environment and regional development will gulp N10.515bn.

The governor said completion of the on-going projects across the state would be given priority as the sum of N10bn had been earmarked for the completion of road projects in 2013.

Further breakdown of the estimate showed that the education sector had the highest allocation of N10.523 bn, followed by road construction and maintenance which had N10.25bn, while health services had N6.932bn.

Housing and environment had N6.687bn, social and community development 5.659bn, the agriculture sector had N3.281 billion and general administration gulped N4.621bn.

The governor also said a total of N2.23bn was earmarked for various activities of the House of Assembly, while the judiciary was allocated N1.16bn.

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