34.2 C
Tuesday, November 29, 2022

ODHA passes N187b Ondo budget into law

ODHA passes N187b Ondo budget into law

By Josephine Oguntoyinbo
Ondo State House of Assembly has passed into law the 2020 appropriation bill with a total balance projection of N187,858, 525,273 naira on both recurrent and capital Expenditure.

 Upon submission and consideration of the report, the chairman, house committee on finance and appropriation, Mr Sunday Olajide noted that the budget projection was increased by N9,914,690,000 as against the initial proposal of N177 , 943, 835 , 273 .

 After critically examining the 2020 appropriation bill defended by all Ministries, Department and Agencies MDAs in the state, the house met to see to the passage of the 2020 budget estimate for the overall development of Ondo state.

  Olajide noted that 10 billion, 508 million, 246 thousand, 933 naira is for debt services, 82 billion, 690 million, 334 thousand, 943 naira for recurrent estimate while 80 billion, 480 million, 043 thousand, 323 naira is for capital Expenditure.

Olajide, in the recommendation therefore enjoined the state govt to take all necessary steps that will propel all income generating MDAs to embark on more result oriented internally generated revenue drive in line with extant laws.

The speaker, Bamidele Oleyelogun, in his ruling passed a total projection of N187, 858, 525, 273  into law for the overall development of Ondo state for the year 2020.

Oleyelogun noted that the 2020 fiscal budget will further drive the growth of the economy and commencement of new projects and programmes that are crucial to the development of Ondo state.

The speaker who commended Governor Oluwarotimi Akeredolu for his efforts at transforming the state assured that both the executive and the legislative arms of government will continue to work in harmony in the best interest of the state,  just as he wished the people of Ondo state a fruitful and prosperous year 2020.

The Hope Owena Press
The Hope Owena Presshttp://www.thehopenewspaper.com
Owena Press Limited (Publisher of The Hope Newspaper), Akure


Please enter your comment!
Please enter your name here

Latest news


Related news