The Ondo State governor, Lucky Aiyedatiwa, on Friday, signed the 2024 Appropriation bill, shortly after it was passed into law by the state House of Assembly.
Aiyedatiwa, who presented a total of N384,533,000,000.00 before the parliament last week Thursday, said the bill which has now become law would provide the financial guidepost for the state’s fiscal operation in the year 2024.
“In line with the Constitution of the Federal Republic of Nigeria, 1999, as amended, I am delighted today to give assent to the Ondo State 2024 Appropriation Bill which will provide the financial guidepost for the State’s fiscal operation in 2024.
“You will all recall that on Thursday, 21st December 2023, I presented the 2024 Budget Estimates of N384b, christened 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 same.
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“After extensive deliberation involving interface with all MDAs and the Judiciary, 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) only,” he said.
Aiyedatiwa appreciated the Speaker of the House of Assembly, Olamide Oladiji for the detailed scrutinization and prompt passage of the 2024 Appropriation bill, stressing that the present administration had enjoyed a very cordial relationship with the state legislature.
According to him, the executive arm of the government would put its shoulder to the wheel to implement the 2024 Budget with the required probity and transparency it deserves by putting it on public display.
“As we keep implementing people-centred projects and programmes in line with our REDEEMED Agenda, we would continue to improve on our revenue drive while cutting down on our recurrent costs in view of the prevailing economic realities.
“The focus of this budget as said in my budget speech, is human capital development. Emphasis would also be placed on climate change, clean and sustainable environment, rural development and food security while ongoing legacy infrastructural projects of our dear departed Governor, Arakunrin Oluwarotimi Akeredolu, SAN, CON would be completed,” Aiyedatiwa added.
Earlier, the assembly had passed the 2024 appropriation bill into law, raising the total estimates from the proposed N385 billion to N395,257,000. 000, with an increase of over N10 billion.
Recall that Aiyedatiwa, who was acting governor when he presented the bill tagged “budget of economic resilience” before the assembly, had presented N384,533,000,000.00 budget before the state lawmakers.
Daily Trust reports that the bill comprised N222,259,827,500.00 as capital expenditure while a total of N172,997,172,500.00 was penned for recurrent expenditure.
Oluwole Ogunmolasuyi, the lawmaker representing constituency Owo I and Chairman House Committee on Finance and Appropriation, moved the motion for the adoption of the bill into law during plenary.
He explained that the estimate passed by the assembly was higher by over N10,734,000,000 than what Aiyedatiwa presented.
“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.”
He, however, asked the state government to take necessary steps to ensure that the internally generated revenue was sustained and improved for the budget to meet the needs and yearning of Ondo people.
“The Ministry of Economic Planning and Budget and Ministry of Finance in conjunction with the Ondo State Internal Revenue Service (ODIRS) should ensure that they boost the revenue of the state with details of extant laws,” he said.
Speaking after a unanimous adoption of the bill, the Speaker of the House of the Assembly, Olamide Oladiji said if signed into law, it would turn around the economy of the state and bring about growth and development.
