Amosun proposes N187.9b 2012 budget

[newswarrior]

Governor Ibikunle Amosun of Ogun State yesterday presented N187.9 billion budget for 2012 to the State House of Assembly, an increase of  78 percent compared to the N105.55 billion budgeted in 2011 fiscal year under the immediate past administration of Otunba Gbenga Daniel.

Christened "budget to rebuild," Amosun said it would be financed from the projected Internally Generated Revenue of N63.6 billion, Statutory Allocation N70.8 billion, internal loans of N40 billion, external loans of N5.5 billion and N8 billion from grants.

The sum of N99,594,964,000, representing 53 percent of the budget proposal, was earmarked for capital expenditure while recurrent expenditure would gulp N88,306,220, 000, representing 47 percent.

Attribution: NationalMirror, NewsWatch & Sensor