More roads are coming, while dilapidated ones across the states are to receive face-lift in the new year, Oyo State Governor, Otunba Adebayo Alao-Akala, promised yesterday in Ibadan as he presented to the state House of Assembly for consideration for the 2011 fiscal year, a budget of N144, 111, 285, 500. 00.
Tagged: Budget of Reality, the financial estimates comprised capital expenditure of N78.48 billion or 54.46 per cent of the entire sum and a balance of N65.627 billion to go for recurrent expenses, accounting for 45.54 per cent.
Governor Alao-Akala, whose administration is noted for massive road construction projects, saidards the transformation of the entire road network in the state.
To this end, the governor, who addressed the lawmakers amid fanfare and songs by his supporters, who filled the Assembly’s gallery and premises, said N18.447 billion had been earmarked for the completion of ongoing projects, construction of new ones and expansion and rehabilitation of bad township and intercity roads.
A summary of the proposed capital expenditure showed that transportation took the lion share of the budget with N18,174,000,000. per cent. Urban/rural electrification scheme would take N3,163,500,000 or 4.03 per cent.
Also agricultural and rural development take N2.080 billion, water resources-N2.300 billion, while environmental sanitation, sewage and drainage got N2.642 billion,
Governor Akala told the lawmakers that the focus of his administration was to complete all ongoing projects cutting across all the sectors of the economy with a declaration that the good times had come for the people of the state.
“The intention is to ensure that developmental projects and programmes which have direct positive impact on the lives of our people are executed and implemented. This explains why the capital budget of N78.48 billion for year 2011 is 54.46 per cent of the total expenditure budget,” he said.
According to the governor, the budget was to be financed with proceeds from statutory allocation estimated at N40.180 billion; Internally Generated Revenue (IGR) of N28.536 billion; Value Added Tax (VAT) of N15 billion and excess crude oil, budget augmentation and exchange rate gain valued at N26 billion; while capital receipts would be N34.394 billion.
He said the 2011 proposal was anchored on a renewed Internationally-Generated Revenue drive, in view of dwindling receipts from the Federation Account, adding that emphasis would be placed on the execution of projects which had revenue-yielding potentials.
In addition, he said the administration would make a renewed and integrated effort towards the industrialization of the state thereby making Oyo State the destination of choice for investors.
Another priority focus of the government, according to him, was the sustenance of the gains already made in the area of poverty alleviation through the pursuit of more programmes geared towards skills acquisition and various economic empowerment programmes.
The governor noted with delight that the various Public-Private Partnership arrangements of the state government were at their various stages of maturity, expressing the hope that this would have positive impact on the in-flow of funds by the next fiscal year.
Akala remarked that his vision for the 2011 fiscal year was to consolidate on the achievements so far recorded “to begin the actualization of the dream of making the economy of Oyo State one of the biggest four within the next five years or so.”_
He declared: “It is a vision that is clear; it is a mission that is possible. With my administration's unwavering and focused, execution of its 13-point agenda, the good times are here indeed for the teeming population of this state.”_
On the 2011 general elections, Governor Alao-Akala enjoined the people of the state to participate in the voters' registration exercise which would qualify them to exercise their rights in choosing their representatives and leaders during the polls._
He assured the people of free and fair local government election in the state as he disclosed that a sum of N800 million had been earmarked for the conduct of the council polls and construction of zonal offices for the Oyo State Independent Electoral Commission (OYSIEC) and training of its personnel.
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