(NAN) Gov. Abiola Ajimobi of Oyo State on Thursday in Ibadan presented N207.67 billion as the 2017 Appropriation bill to the state House of Assembly.
The 2017 Appropriation bill, tagged “Budget of Self-Reliance”, is 19 per cent higher than the 2016 budget, which was N173.43 billion.
Ajimobi said that its structure reflected the priority government accorded the various sectors in terms of their anticipated developmental effects.
“Government will raise N59 billion (28.41 per cent) from Federation Account and N7.49 billion(3.60 per cent) from Transfers from Local Government JAAC, among others.
He said that the 2017 appropriation bill had a capital expenditure of N80.80billion and a recurrent expenditure of N126.87 billion.
Ajimobi said that the top priority of the state government would be on infrastructure, agriculture and its value-chain framework, education and health, while others would be given attention.
“In the 2017 appropriation bill, a total of N46.618 billion(57.7 per cent) was allocated to Economic Sector, N25.646 billion (31.74 percent) to Social Services Sector.
“A sum of N880 million (1.09 percent) was allocated to Law and Justice Sector, while N7.654 billion (9.47 per cent) was allocated to General Administration Sector,” he said.
The governor said that the aggregate percentage of 89.44 per cent of the appropriation, which was allocated to the economic and social sub-sector, underscored the government’s commitment to people-centered and empowerment-focused agenda.
Ajimobi said that the appropriation would be driven by IGR, which was expected to raise the highest receipts for budget implementation.
“In the cautious optimism of the state government, we are hopeful that the signals on ground are pointers to economic recovery in the 2017 fiscal year. At the national level, the oil price is appreciating globally.
“We have also embarked on the reorientation and refocusing the citizenry towards increased participation in agricultural activities and also initiated various programmes to ensure economic inclusiveness,” he said.
The governor said that government had strived to enhance the revenue base of the state by expanding the tax net, blocking all financial loopholes, redirecting and refocusing governance within the government ministries and agencies .
The Speaker, Mr Michael Adeyemo, said that the proposal could aptly be termed a budget of hope.
He said that the increment in the 2017 bill from that of 2016 signified that year 2017 would be a promising and fulfilling one for the state.
Adeyemo said it also showed the genuine commitment of the present administration to the development of the socio-economic life of its citizenry.
“The house will intensify efforts for effective service delivery in 2017. We implore the executive arm to give deserved considerations to our resolutions and such will enhance legislative-executive relationship,” he said.
He called for an urgent review of rates and taxes collectables in accordance with the present circumstances.