By Josephine Oguntoyinbo
Ondo State House of Assembly has conducted the year 2023 budget defence of the State Oil Producing Area Development Commission (OSOPADEC).
It would be recalled that the House had last week committed the budget to the Committees for proper scrutiny where the Speaker, Bamidele Oleyelogun directed them to submit to the House as soon as possible.
In the budget, over N10 billion is for Capital expenditure while N4 billion is for recurrent expenditure.
The Chairman, House Committee on OSOPADEC, Prince Abayomi Akinruntan said that the budget if well implemented will further develop the mandate areas.
He directed the management of OSOPADEC and the Ministry of Economic Planning and Budget to submit necessary documents to the Committees to fastrack the budget passage.
In his opening remarks, the Chairman House Committee on Finance and Appropriation, Akintomide Akinrogunde noted that the exercise was part of the Committees’ task to properly appropriate budget for OSOPADEC that will run for the next fiscal year.
Commenting, OSOPADEC Chairman, Sam Erejuwa affirmed that the budget is a renewed hope in line with the REDEEMED agenda of the present government, adding that the components of the budget is a realistic one with 70 percent dedicated for capital expenditure.
Also, the State Commissioner for Economic Planning and Budget, Emmanuel Igbasan who was represented by a Director in the Ministry, Stephen Aworere informed that the budget is in full compliance with the national guidelines and aligned with the global best practice.
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