The acting Governor of Ondo State, Mr Lucky Aiyedatiwa has presented the 2024 budget of three hundred eighty four billion, five hundred and thirty three billion naira to the state House of Assembly for approval.
Speaking at the ceremony, Mr Ayedatiwa said that the budget tagged BUDGET OF ECONOMIC RESILIENCE, infrastructural development.
One hundred and seventy two billion, five hundred and eighteen million,three hundred and fifty three naira only is for recurrent expenditure while
two hundred and twelve billion, fourteen million,eight hundred and fifty nine thousand,six hundred and forty seven is for capital expenditures.
The budget according to Mr Ayedatiwa which would be funded majorly from the statutory allocation,vat,grants, IGR.
The acting Governor reiterated that if the current drive by all revenue generating agencies, spearheaded by the Ondo State Internal Revenue Service, is sustained, the state would be able to attain desired level of internal revenue generation
Mr Ayedatiwa acknowledged that the current national and global economic realities had made the government consciously re-arrange fiscal priorities to target the growth drivers of the economy to keep it afloat.
He also acknowledged the negative impacts of fuel subsidy removal and floating exchange rate on the people hence Ondo State would continue to roll out palliative measures to cushion the effects of the fuel subsidy removal.
Speaker of the house, Mr Olamide Oladiji while responding said Ondo State had recorded rapid development and commended government for giving every sector attention despite dwindling revenue.
Mr Oladiji promised that the lawmakers would speedily consider and pass the budget after scrutiniseing it properly.
Meanwhile, Ondo State House of Assembly has committed the 2024 State budget proposal to Committee stage, just as it scaled second reading.
At plenary presided over by the Speaker, Olamide Oladiji, directed the Committee on Finance and Appropriation to do justice to the budget and submit to the House within the shortest time possible.
While noting that the proposal is for the overall interest of the people of the state, Mr Oladiji charged the Committee to do justice to the bill.
The speaker also directed that all the Ministries, Departments and Agencies,(MDAs) to liaise with standing committees and equally come along with each Chairman of the committee before appearing for budget defense, while anybody who fails will not be allowed to appear for budget defense
The Acting Governor, Lucky Aiyedatiwa had presented a budget proposal of 384.5 billion for the 2024 fiscal year to the state House of Assembly.
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