2nd February, 2018
The Ondo State House of Assembly on Friday passed the 2018 Appropriation Bill, raising the estimates from N171.2 billion to N181.4 billion.
The lawmakers unanimously passed the budget estimates at a plenary session presided over by the Speaker, Mr Bamidele Oleyelogun.
Gov. Oluwarotimi Akeredolu had on Dec. 22, 2017 presented a budget of N171.2 billion to the House for consideration.
After tinkering with the bill, the House jerked up the estimates by N10. 1 billion, amounting to N181.4 billion.
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The House Committee on Finance and Appropriation chaired by Mr Sunday Olajide explained that the increase was to accommodate N7 billion SUBEB funds for capital projects in 2017 rolled into the 2018 budget.
He said additional N2 billion was also earmarked for the conduct of local government elections in the state.
Olajide expressed the hope that the budget would give “clear expression to the vision of the government to transform state.
N78. 5 billion is voted for recurrent expenditure, N80. 9 billion is for capital expenditures while N13.5 billion is earmarked for debt servicing. Another N8.3 billion is allocated statutory transfer.
The Majority Leader, Mr Olugbenga Araoyinbo, moved the motion for the passage of the bill after the adoption of the committee’s report and was seconded by the Deputy Speaker, Mr Iroju Ogundeji.