By: Adeola Oladele, Ibadan
According to the breakdown of the economic sector of the 2017 budget, presented by the state’s Commissioner for Finance, Mr. Abimbola Adekanmbi on Friday at the House of Chiefs, Parliament Building, Secretariat, Ibadan, a sum of Twenty-five billion naira (N25,000,000,000.00) only was approved for the state’s Ministry of Works and Transport, which represents 30.94 percent of the budget, while Seven billion, three hundred and eighteen million, seven hundred and two thousand, twenty-one naira nineteen kobo (N7,318,702,021.19) only was allocated to the Ministry of Finance and Budget, which represents 9.06 percent of the budget.
Equally, the state’s ministry of Agriculture and Natural Resources gulped a sum of Four billion, six hundred and fifty million naira (N4,650,000,000,00)only, which represents 5.76 percent of the total budget
Under the social sector of the budget, a sum of Four billion naira (N4,000,000,000.00) only was approved for the state’s Ministry of Education, Science and Technology, which represents 4.95 percent of the state’s budget, while Seven billion, one hundred and thirty four million, eight hundred thousand naira (N7,134,800,000.00) only was approved for the Ibadan Urban Flood Management Project, which stands at 8.83 percent of the budget.
The finance commissioner noted that the fiscal management strategy of the present administration in the state was to encourage ventures that would provoke increased income generation and to evolve ingenuity that would sustain the state on the path of self reliance.
He added that his ministry (Finance and Budget), as the hub for implementation when the budget is eventually passed into law by the state’s House of Assembly, has put in place a budget implementation strategy that would employ administrative monitoring and evaluation that would focus on speedy and high implementation rate.
The commissioner also hinted the gathering some of the road projects awarded by the state government which include the dualisation of 4.0km Ibadan-Oyo/Iseyin-Oyo junction-Owode with the expansion of 2.5km spurs to Akesan-Palace, Oyo and sectional portion of the old Ibadan Oyo road, which he said was awarded at a contract sum of N443,012,465.56.
In the same vein, the construction of long-awaited Ijokodo-Apete raod and its associated bridgeworks was also awarded by the state government at a contract sum of N433,607,840.41 and other ongoing road constructions.
It would be recalled that Governor Ajimobi, on Thursday, last week presented the 2017 budget proposal in the sum of Two hundred and Seven Billion, Six hundred and Seventy-One Million, Four Hundred and Ninety-five thousand, Three Hundred naira (N207,671,495,300.00) only to the state’s House of Assembly for consideration and approval.