Governor Lucky Aiyedatiwa of Ondo State, on Friday, signed the State’s 2024 Appropriation Bill of N395 billion into law.
Recall that Aiyedatiwa had presented the 2024 budget estimate of N384 billion,and christened “Budget of Economic Resilience” to the State House of Assembly.
Aiyedatiwa, in his speech at the budget signing ceremony in Akure , said that the Appropriation bill was signed after extensive deliberation and interface with other organs of government and all Ministries Department and Agencies (MDAs)
The budget comprises capital expenditure of N222.99 billion, representing 56.23 per cent and recurrent expenditure of N172.26 billion, representing 43.77 per cent
While disclosing that the budget focused on human capital development, he appreciated the Speaker and other lawmakers for the detailed scrutiny and prompt passage of the bill.
Meanwhile, the budget, which was passed by the Ondo State House of Assembly following the adoption of the report of the House Committee on Finance and Appropriation, presented by its Chairman, was jerked up by N10.7 billion.
“You will all recall that on Thursday, December 21, 2023, I presented the 2024 budget estimates of N384b, christened the Budget of Economic Resilience, to the State House of Assembly for legislative consideration. The House, in its characteristic devotion to our people’s cause, has painstakingly considered the budget and passed it.
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“I must thank Mr. Speaker, the Deputy Speaker, the Chairman, the Members of the House Committee on Appropriation, and all Honourable Members for the detailed scrutinization and prompt passage of the 2024 Appropriation Bill,” he said,
The Governor said the budget would address the issue of climate change, and promote a clean and sustainable environment, rural development and food security.
He added that the budget made provisions for the completion of ongoing legacy infrastructural projects of late Governor Rotimi Akeredolu.
“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.
“In pursuit of this, the 2024 budget details will be made available on the Ondo State portal www.ondobudget.org, for access and monitoring.
“As we keep implementing people-centred projects and programmes in line with our REDEEMED Agenda, we will continue to improve on our revenue drive while cutting down on our recurrent costs given the prevailing economic realities.
“I wish to therefore solicit for the continuous understanding and cooperation of our people, to understand the temporary pains occasioned by the recent petrol subsidy removal.
“This administration would continue to put measures in place to cushion the effects until we can weather through the storm, hopefully, shortly,” he said.
