We’re ready to receive it – Speaker

By Josephine Oguntoyinbo

Ondo State Governor, Hon. Lucky Aiyedatiwa, will today present the 2025 budget proposal to the State House of Assembly.

The Hope gathered that all is set to transmit the appropriation bill to the House for scrutiny after all Ministries, Departments, and Agencies (MDAs) had appeared before the State Ministry of Economic Planning and Budget for pre-treasury discussions.

Members of the State House of Assembly had earlier been recalled from recess for urgent legislative activities at 9 a.m. today.

This was contained in a statement personally signed by the Speaker of the House, Chief Olamide Oladiji.

According to the statement, the lawmakers were recalled to address some urgent legislative matters. They were initially expected to resume on December 17, 2024.

Last year, the State House of Assembly passed a budget of over ₦395 billion for the 2024 fiscal year, covering both recurrent and capital expenditures.

The 2024 budget proposal presented by the executive was increased by over ₦10 billion by the lawmakers.

Meanwhile, in October this year, the State House of Assembly equally passed a supplementary 2024 budget of over ₦96 billion. This brought the total 2024 budget to ₦492.045 billion.

The supplementary budget was reviewed upward by over ₦4 billion, bringing it to over ₦96 billion.

The chairman of the House Standing Committee on Finance and Appropriation, Oluwole Ogunmolasuyi, while presenting the committee’s findings, said the revised budget would accommodate all necessary adjustments. These adjustments were required to review the initially approved sum of ₦395.257 billion upward to ₦492.045 billion.

According to him, some heads and sub-heads in the 2024 Appropriation Law had been overtaken by inflationary pressures, exhausting the allocated funds. Additional funds were therefore required to achieve the target goals before the end of the fiscal year.

He explained that the revised budget reflected the government’s commitment to intelligible budgeting for rapid development.

He added that the Committee’s detailed consideration of the proposal showed that the need to cushion the effects of fuel subsidy removal and to service the new minimum wage necessitated the budget review.

In a telephone interview, the Chairman of the House Committee on Information, Chief Olatunji Oshati, confirmed to The Hope that the House is expecting the presentation of the 2025 budget proposal from the executive today