Akeredolu signs N276bn 2023 budget into law

Sharing is caring!

…says administration ó zzz n right track

Ondo State Governor, Rotimi Akeredolu, on Wednesday, signed the 2023 appropriation bill into law.

Governor Akeredolu had on December 5, presented a budget proposal of N272.736 billion to the state House of Assembly for approval and passage.

The lawmakers, however, passed a total budget of N275,979,184,000.00.

The Appropriation Committee of the House, led by Hon. Akintomide Akinrogunde  said the budget was increased in cognisance of the current economic realities in the country.

Governor Akeredolu, while signing the appropriation bill at the Exco Chambers of the Governor’s Office, Alagbaka, Akure noted that N129,839 billion, representing 47 percent of the total budget is to cater for recurrent expenditure, while N146,140 billion, representing 52.99 percent is for capital development.

According to the governor, the signed budget, christened “Budget of Shared Prosperity”, was prepared from the inputs garnered from the people during the Town Hall meetings with various stakeholders across the state.

He stressed that the budget preparation was also based on the REDEEMED agenda of his administration, which he said was the guide post for development of the state.

The governor described as heartwarming, the recent ranking of Ondo State as the state with the least poverty index in the country.

Governor Akeredolu said the ranking by the National Bureau of Statistics, in collaboration with United Nations Development Programme (UNDP), United Nations Children’s Fund (UNICEF) 2022 Multidimensional Poverty Index of States in Nigeria, was a testimony that his administration is on the right track.

The governor, who decried the lean revenue from the Federation Accounts Allocation Committee (FAAC), assured that his administration will strive to logically implement the 2023 budget to the letter.

Earlier, the Speaker of the House of Assembly, Rt. Hon. Bamidele Oleyelogun, while presenting the appropriation bill to the governor, commended him for the priority attention given to all sectors of the economy of the state.

Related Articles

Back to top button