By Josephine Oguntoyinbo
Ondo State Oil Producing Area Development Commission (OSOPADEC’s) budget 2023 has been passed into law.
The over N14 billion presented by the State Government to the State House of Assembly some weeks ago which was committed to the joint Committees of OSOPADEC and Finance and Appropriation for scrutiny became law after scaling through the third reading at a plenary presided over by the Speaker, Bamidele Oleyelogun
In the budget, N10,634,174,350 billion is for capital expenditure while N3,679,285,269.57 billion is for recurrent expenditure.
Earlier, while presenting the report of the joint committees, the Chairman House Committee on Finance and Appropriation, Akintomide Akinrogunde said that the committees observed that the projected revenue of 40 percent of 13 percent oil derivation was in tandem with the provision for OSOPADEC in the year 2023 Budget of the State.
That the Commission has actually ensured peace and tranquillity in the Niger Delta Region through the engagement of security Companies for Waterways Surveillance which has made the region one of the most peaceful in the Niger Delta area in the country.
That the year 2023 OSOPADEC Budget is almost 70 percent capital intensive and will definitely translate to initiation of new projects, completion of some on-going projects and commissioning of some vital projects which will transform the lives of the people in the mandate area.
The commission was highly commended by the committees for the adoption of contributory pension scheme to further improve the lives of its employee even after retirement.
The committees recommended that all on-going projects of the Commission should be given accelerated attention so as to get them completed for the use of the people.
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