Business & EconomyAjimobi presents N165.5 billion 2016 budget

Ajimobi presents N165.5 billion 2016 budget


Ajimobi presents N165.5 billion 2016 budget
By; Bayo Akamo, Ibadan.
Governor Abiola Ajimobi has presented budget proposal of N165.5 billion appropriation bill for the 2016 fiscal year to the state House of Assembly.
Presenting the budget, tagged “Budget of Renew Commitment”, Governor Ajimobi hinted that N93.2 billion will be for the recurrent expenditure while N72.3 billion would go for capital expenditure.
The governor declared that the focus of the budget would be on agriculture for food security, employment generation; education and human capital development; Infrastructure development and peace and security to make the state conducive for all and sundry and consolidate on his administration’s efforts in repositioning the state.
Ajimobi pointed out that areas such as adoption of zero based budgeting, restructuring of public service and restructuring of the Ministries into 13 among others would get attention.
He stressed further that Oyo state has targeted N 48 billion  from the federal allocation for the year 2016, while all efforts are in top gear to increase the revenue base of the internally generated revenue to N 76.7 billion for the year, adding that substantial amount of money from the capital expenditure would be used to open more roads in Ibadan, the state capital and complete some major roads in other geo-political zones of Oyo, Ogbomoso and Oke-Ogun.
While urging the state House of Assembly to support his administration in a bid to ensure full implementation of the budget, he maintained that certain amount of money would also be used to build more classrooms and rehabilitate more in a bid to increase the performance of the students.
Speaker of the House, Honourable Micheal Adeyemo charged the governor to include the judiciary in the budget as the House was ready to ensure quick passage of the bill.
Urging MDAs in the state to cooperate with the stakeholders in ensuring full implementation of the budget, Hon Adeyemo said, “we need prayers, support for our legislative business, we pledge our support toward full implementation of the budget”.


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