Governor Ajimobi Presents N207bn Budget of Self-Reliance

Governor Abiola Ajimobi of  Oyo State
presenting 2017 budget to the OSHA

Governor Abiola Ajimobi of Oyo State on Thursday presented a total budget of N207.671 billion for the 2017 fiscal year to the State House of Assembly, which represents an increase of 19.13 per cent compared to the 2016 budget.

The governor, while presenting the budget titled “Budget of Self Reliance”, explained that the recurrent expenditure will cost N126.87 billion which is 61.09 per cent of the budget while the capital expenditure will take N80.80 billion or 38.91%.

Governor Ajimobi stated that Personnel Cost, made up of Salaries, Allowances and Promotion Arrears stands at N56.04 Billion or 26.99 per cent while overhead cost accounts for N20.04Billion which is 9.75%, adding that N50.79bn or 24.45 is meant for the Consolidate Revenue Fund Charges to sum up the total Recurrent Expenditure of N126.87 billion.