ONDO State Governor, Dr Olusegun Mimiko, on Tuesday presented to the State House Of Assembly a N150 billion budget for the 2012 fiscal year.
Tagged “A Caring Heart Budget III”, the 2012 budget exceeds the 2011 budget by about 7 billion naira, and it is geared towards further consolidation of the administration’s achievements of the last three years.
Presenting the Caring Heart budget to the state’s Lawmakers on the floor of the State House of Assembly in Akure, the governor explained that N85.5b of the budget has been earmarked for capital expenditure, while N64.5 billion is estimated for recurrent expenditure, inclusive of N8.2b statutory grant to the Ondo State Oil Producing Development Commission (OSOPADEC).
The governor also stated that the budget would be serviced by expected N75b revenue from the Federation Account, the retained N12b internally generated revenue projection and N38b drawdown from the bond issue as well as external and internal sources which will commence from this fiscal year, among other sources.
The sector breakdown of the budget shows road construction and maintenance taking the lion share of N16.025b with education gulping N12.198b while N8.2b is the estimated spending on the provision of health services.
Others are Agriculture N3.7b, Trade and Industry N3.3b, Enhancement of Electricity Supply 0.8b, Social and Community Development N6.6b, Water Supply N3.6b, Housing and Environment N6.7b, Administration of Justice N1.3b
Mimiko explained that “one feature of the capital estimates for the 2012 fiscal year is the emphasis placed on completion of all on-going developmental projects while only very important new initiatives were taken on board.
“A total of N2.2 billion has been earmarked for the operation of the legislature to provide the needed impetus for the delivery of the dividends of democracy to the people of the state.
“The judicial arm of government received enormous support in the course of the out-gone fiscal year. The Court of Appeal, as well as the Customary Court of Appeal, effectively took off in the course of the year. Also, the National Industrial Court will soon commence operation in the state.
“In the current fiscal year, over N1 billion has been provided to support the judicial arm for its operations.
At the workers level, the governor informed that a new Public Service Training Institute sited in Ifedore Local Government is nearing completion. He added the the Institute has an International Governing Council and set to produce world-class graduates.
Reviewing both the 2011 budget and his administration’s performance since inception, Mimiko explained that on the revenue side, the performance of the 2011 budget started on a sluggish note, especially the expected revenue from Federation Account. He hinted however that as the year progressed, the different classes of revenue continued to improve.
Mimiko divulged that as at December, 2011, a total of N118.997 billion had been generated from all sources as against the expected generation of N143.500 billion, implying a shortfall of N24.997 billion. Informing however that inspite of all these challenges, the government has been able to record appreciable success in the implementation of the 2011 Budget.
“On a general note, it is heartening to state that within this short period in the annals of this State, we have redefined governance; achieved a respectable level of infrastructural renewal; invested heavily in the productive capabilities of our people; and raised the bar in all sectors of governance.
The governor who also spoke on the current political situation in the state, cautioned political leaders irrespective of political affiliation, to guard their utterances for sustenance of peace in the state.
“As we approach the electioneering period in the state, I wish to implore the people of Ondo State to conduct ourselves with decorum. Let me also call on the media to avoid mischief makers who are purveyors of misinformation in order to mislead the public. This State belongs to all of us, hence we should all work together to move it forward” Mimiko pleaded.
