Ogun State Ministry of Finance has assured it will continue to mobilize all machineries towards formulating financial policies and regulations that will sustain the achievement of increasing government revenue, fiscal objectives and sound management of the State’s finances.
The State Commissioner for Finance, Mr. Dapo Okubadejo, represented by the Permanent Secretary in the Ministry, Mufutau Towolawi, disclosed this while presenting the 2024 budget estimates before the State lawmakers at the Assembly Complex, Oke-Mosan, Abeokuta.
He explained that the next fiscal year would witness an expansion of the State revenue base and networking, saying that the Ministry remained committed to transforming the state internally generated revenue with less dependence on federal allocation through provision of dynamic and excellent leadership in the process of collecting and disbursement of government funds.
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The Commissioner noted more strategies were being put in place towards promoting fiscal discipline through efficient budget practices, prudent debt levels and ensuring value for money.
He therefore defended the Ministry’s total budget expenditure for next year to the tune of N21.229bn, with capital projects taking N1.639bn, while the remaining N19.58bn would cater for recurrent expenditure, and the revenue target was put at N14.981bn.
Other agencies that defended their budget proposals before the State lawmakers included the Ministry of Budget and Planning led by its Commissioner, Mr. Olaolu Olabimtan, the State Signage and Advertising Agency, the State House of Assembly and the House of Assembly Service Commission amongst others.