The Ondo State Governor, Lucky Aiyedatiwa, on Friday, signed the 2024 appropriation bill into law.
Recall that the Ondo State House of Assembly had earlier passed the appropriation bill.
Aiyedatiwa (then an acting governor) presented a sum of N384.5 billion to the Assembly last week. However, the House passed a sum of N395.257 billion.
This indicated that a sum of over N10 billion was added to the initial amount presented.
In the budget tagged ‘Budget of economic resilience’, a sum of N222,259,827,500.00 was earmarked for capital expenditure while recurrent expenditure is to gulp N172,997,172,500.00.
The governor confirmed that the House had carefully examined the budget and passed same.
He said, “After extensive deliberation involving interface with all MDAs and the judiciary, the size of the approved budget for 2024 stands at N395,257,000,000.00 only.
“Out of this amount, a sum of N222,259,827,500.00 only, representing 56.23 per cent is for capital expenditure while a sum of N172.997,172,500.00 only, representing 43.77 per cent is to cover the recurrent expenditure.”
The governor commended the speaker and members of the state House of Assembly for the detailed work done and the prompt passage of the appropriation bill.
“I must put on record that generally, this administration has enjoyed a very cordial relationship with the legislature and this has enabled us to deliver considerably on our promises to our people. This is a good legacy of our dear Arakunrin (Akeredolu) which must be sustained,” he stated.
