By Josephine Oguntoyinbo

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The Ondo State Oil Producing Areas Development Commission (OSOPADEC) budget for 2024 has been passed into law.

The over ₦16 billion budget presented by the State Government to the House a few weeks ago, which was committed to the joint Committees of OSOPADEC and Finance and Appropriation for scrutiny, became law after passing the third reading at a plenary presided over by the Speaker, Chief Olamide Oladiji.

In the budget of ₦16,589,793,823.64, a sum of ₦3,249,906,749.54 is allocated for recurrent expenditure, and ₦13,339,889,074.50 is allocated for capital expenditure for the year 2024.

Earlier, while presenting the report of the joint Committees, the Chairman of the House Committee on OSOPADEC, Primate Oluwatoyin Allen, said that the Committees observed that the projected revenue of 40% of the 13% oil derivation was in line with the provision for OSOPADEC in the State’s 2024 Budget.

The distribution of projects revealed that the people of the mandate areas were involved in the preparation of the fiscal document, and the effects of sea incursion on the people were critically considered.

The Commission has ensured peace and tranquillity in the Niger Delta region through the engagement of security companies for waterways surveillance, making the region one of the most peaceful in the Niger Delta.

The Committees emphasized the need to make additional budgetary provisions for waterways surveillance to sustain the existing peace in the mandate area.

The template of the Appropriation Bill was in line with the National Chart of Accounts and the Nigerian Governors’ Forum template of budget preparation.

The Management team of OSOPADEC should not rely solely on the 40% of the 13% oil derivation fund but should be more rigorous and creative in their collaboration with both local and international organizations/donors to meet the expectations of the State’s citizens.

The Commission should urgently carry out a critical assessment of all vehicles with the intent to auction the unserviceable ones rather than wasting limited public funds on refurbishing them.

The Commission should be more rigorous in training and retraining its staff for optimal performance to enhance higher productivity, while the procurement plan of the Commission should be more defined and direct.

After the Speaker subjected the report to critical debate at plenary, it was unanimously adopted for passage through a majority voice vote.

Earlier, the Acting Majority Leader, who is the Parliamentary Secretary of the House, Moyinolorun Ogunwumiju, moved a motion for the bill to be moved to third reading and approved for passage, which was seconded by a Lawmaker representing Akoko South West 2, Tope Agbulu.