The Ogun State Government has reaffirmed its commitment to transparency and fiscal discipline, achieving 74% performance rate for its 2023 budget.
This was disclosed during the presentation of the Citizens’ Accountability Report that was based on Audited Financial Statement for the year 2023 at the Citizens Consultative Forum meeting led by the Accountant-General and Permanent Secretary of the State Treasury, Mr. Tunde Aregbesola at the Ministry of Finance’s Conference Room, Oke Mosan, Abeokuta on Wednesday, 25th September, 2024.
The Forum, which included the representatives from Citizen Accountability Groups, NGOs, Community-Based Organisations (CBOs), Civil Society Organisations (CSOs) and general citizens highlighted the State’s dedication to openness through Ogun State Fiscal Sustainability Program.
Mr. Aregbesola emphasised that the Citizens’ Accountability Report underscore the government’s commitment to maintaining fiscal transparency and accountability to its citizens. He noted that the 2023 budget, labelled the ‘Budget of Continued Development and Prosperity’, achieved a 74% performance rate in the Internally Generated Revenue (IGR).
He further highlighted the significant increment recorded, particularly in the sectors of education, health and infrastructure, which he described as dividends of democracy for citizens of Ogun State.
‘What is paramount to us is how to sustain the IGR growth in order to finance more capital expenditure. In 2023, the State budgeted N198.749billion for IGR and realised N146.016billion which is 73% performance; this also represents a 22% increase in IGR compared to year 2022’ Aregbesola stated.
He added that the government had reduced debts and liabilities as loans performance was only 44% of the budget for the year. This is also a decline of 41% compared to year 2022 borrowing level; this reduction in loan accessibility is a positive indicator of a well-managed and conscientious application of the State’s resources.
In his remarks, the Permanent Secretary, Ministry of Finance, Mr. Adesina Towolawi, urged the participants to objectively assess the State’s financial performance, highlighting areas of success and areas requiring improvement, stressing that achieving citizens’ satisfaction is the heart beat of the present administration.
All the Citizens’ representative in attendance, Non-Governmental Organisations (NGOs), Community Based Organisations and Civil Societies commended the State Government’s efforts in promoting openness and good governance in the state and praised the State for sustaining the gains of State Fiscal Transparency, Accountability and Sustainability (SFTAS) PforR and this engagement with citizens through the Citizens’ Accountability Report, acknowledging the positive impact of such programs in fostering accountability within the State.
