Governor Aiyedatiwa signs Ondo state 2024 budget into law

The Ondo State Governor, Lucky Aiyedatiwa, has signed the state’s 2024 budget into law, while it is recalled that as an acting Governor on 21 December, 2023 presented a budget of N384.53 billion to the assembly.

Penpushing reports that the estimate comprised of capital expenditure of N222.26 billion with a recurrent expenditure of N173 billion, however, the assembly increased the budget to N395 billion, a difference of about N10.7 billion.

The House of Assembly first considered the report on the bill on Friday after it was laid by its committee on Finance and Appropriation, while the chairman of the committee, Oluwole Ogunmolasuyi, who represents Owo Constituency 1, affirmed amendment of the bill

‘The committee after an interface with Ministries, Departments and Agencies (MDAs) for defence of their respective estimates amended the original bill and recommended N395 billion,” the chairman of the committee said.

Penpushing further reports that the Ayedatiwa while assenting to the appropriation bill shortly after it was passed, explained that the budget would focus on economic growth and development of the state.

The Governor highlighted the budget’s focus on human capital development, environmental sustainability, rural development, and completing ongoing infrastructural projects initiated by the late former governor, Oluwarotimi Akeredolu, who died on Wednesday.

‘The size of the approved Budget for 2024 stands at Three Hundred and Ninety-Five Billion, Two Hundred and Fifty-Seven Million Naira (N395,257,000,000.00). Out of this amount, a sum of Two Hundred and Twenty-Two Billion, Two Hundred and Fifty-Nine Million, Eight Hundred and Twenty-Seven Thousand, Five Hundred Naira (N222,259,827,500.00) only, representing 56.23% is for Capital Expenditure while a sum of One Hundred and Seventy-Two Billion, Nine Hundred and Ninety-Seven Million, One Hundred and Seventy-Two Thousand, Five Hundred Naira (N172.997,172,500.00) only, representing 43.77% is to cover the Recurrent Expenditure’, he said.

‘The focus of this budget is human capital development… we would keep meeting salary, pension and gratuity obligations. Emphasis would also be placed on climate change, clean and sustainable environment, rural development, and food security’, Ayedatiwa added

Penpushing also reports that he expressed gratitude to the lawmakers for their swift passage of the bill and emphasized the need for transparency in implementing the budget, stressing that the Executive Arm of Government will put its shoulder to the wheel to implement the 2024 Budget with the required probity and transparency it deserves.

The Governor acknowledging the recent impact of the removal of petrol subsidy by the Nigerian government assured the people of the state of measures to mitigate the impact, emphasizing that his administration would continue to put measures in place to cushion the effects until it is able to weather through the storm, hopefully shortly.

Penpushing reports that the Commissioner for Budget and Economic Planning Emmanuel Igbasan in his remarks assured that the budget will offer much-needed relief and economic prospects to the people of Ondo State.

The Speaker of the House of Assembly, Rt Hon Olamide Oladiji, led members of the Assembly to the budget signing event while the Secretary to the State Government, Oladuni Odu, the Chief of Staff to the Governor, Olugbenga Ale, Commissioner for Finance, Wale Akinterinwa and other members of the State Executive Council were in attendance.

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