On Tuesday, Oyo state governor, Abiola Ajimobi, presented the 2016 budget before the state House of Assembly as covered here by IBPulse. Called the Budget of Renewed Commitment, the governor said in the New Year, attention will be given to on job creation, food security, poverty alleviation, education and human capital development.
The government plans to spend N165,097,845,486 in 2016 and the cardinal programmes are agriculture, employment generation, poverty alleviation, education and human capital development, infrastructural development and peace and security.
Ajimobi revealed that priority would be given to expanding the tax net through accelerated employment generation by private investors, tax reforms, increased economic activities and MDAs restructuring. It would be recalled that the governor recently revealed the goal for next year would be to increase its internationally generated revenue to NGN3.5 billion following months of economic stagnation in Oyo state.
About N92.37 billion, representing 35.88 per cent, was allocated to recurrent expenditure; capital expenditure takes N72.73 billion, representing 44.10 per cent.
The breakdown is Economy N39.90 billion, representing 54.85 per cent; Social Services N13.60 billion, representing 18.63 per cent; Urban Regional Development N8.10 billion, 11.17 per cent and General Administration N11.20, representing 15.85 per cent.
“As part of the revolution in agriculture, a massive empowerment of youths and women is being proposed in 28 agrarian local governments in fruit and leafy vegetable production.
“The Ikere Gorg Dam at Iseyin shall be more utilised in hosting an agro-industrial centre with the aim of encouraging value addition of major agricultural crops.
“The opening up of road and extension of the National Grid to the site is thus a major focus and part of efforts to open up rural roads to which we are making access to available grants for agrarian local governments.
“All projects, such as construction and furnishing of classrooms and model schools, will be completed next year,” he said.