BY OLA AJAYI

IBADAN — Governor Abiola Ajimobi has presented the budget of N188.9 billion for the 2014 fiscal year.
The budget tagged, ‘Budget of Consolidation,’ was presented to the 32-member legislative arm and hundreds of members of public including members of the State Executive Council on the floor of the House of Assembly, Secretariat, Ibadan.

According to him, the 2014 fiscal year would  aim at solidifying the on-going process of physical and social infrastructure development in the state.
The governor proposed the sum of N96.041 billion, representing 50.9 per cent for recurrent expenditure, while the capital expenditure will gulp N92.795 billion, representing 49.1 per cent of the budget.

The sectoral allocation consists of economy N36,192,500,000, representing 39.01 per cent; Social Services N25,680,000,000, 27.67 per cent; Urban Regional Development N17,741,600,000, 19.12 per cent, and General Administration N13,180,916,000.

At the presentation of the budget, a member of the House of Assembly representing Egbeda State Constituency, Mr. Ibrahim Bolomope announced his defection to the ruling All Progressives Congress, APC, on the floor of the House.

He said: “Today, I have decided to pitch my tent with a party of the progressives, that is, the All Progressives Congress,” Bolomope, an erstwhile Accord Party member, told a jubilant crowd that had thronged the Assembly to witness the budget presentation.