The Ondo State acting Governor, Mr Lucky Aiyedatiwa, on Thursday, presented the 2024 appropriation bill to the state House of Assembly.
According to the acting governor, a sum of N384.533bn was appropriated for both capital and recurrent expenditure for the coming fiscal year.
In the budget proposal, christened ‘Budget of Economic Resilience,’ a sum of N172,518,140,353 was earmarked for recurrent expenditure while N212,014,859,647 was for recurrent expenditure.
During the plenary session, the Majority Leader of the Assembly, Mr Oluwole Ogunmolasuyi, moved the motion for the budget proposal to be presented to the Assembly and the motion was seconded by the Deputy Speaker, Mr Abayomi Akinruntan.
Addressing the lawmakers, the acting governor said, “In view of the above fundamentals, coupled with the removal of fuel subsidy, which is expected to translate into more revenue from FAAC to our state, a total budget of N384,533,000 only is being proposed for the 2024 Fiscal Year.”
Aiyedatiwa sought the cooperation of the Assembly members to join hands with him and move the state forward in line with the vision of Governor Rotimi Akeredolu.
“Before I lay the Year 2024 Appropriation Bill before this Honourable House on behalf of Mr. Governor, I would like to seek the continuous partnership of everyone in making our state-run smoothly in line with the mindset of Mr. Governor.
“The challenges that lie ahead in the incoming year dictate that we should all work together, as we seek to create an enduring economy for our dear state, knowing full well that whatever we do today will be referenced tomorrow, “ he said.
Giving a breakdown of the budget, Aiyedatiwa said N95.5bn, representing 24.8 per cent of the budget was voted for infrastructure.
“This is so because it is the sector that will stimulate the economy in the next fiscal year,” he said.
