‘Budget of Shared Prosperity’ For Ondo State Signed Into Law

•Akeredolu says his administration is on the right track

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

Akeredolu, while signing the 2023 appropriation bill into law at the exco chambers of the governor’s office, Alagbaka, Akure noted that N129, 839 billion, representing 47 per cent of the total budget is to cater for recurrent expenditure, while N146,140 billion, representing 52.99 per cent 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.

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.

He said “In line with the global best practices, we have strategically cut down the overhead costs and other miscellaneous expenses in order to free funds for development programmes and projects.

“In broad view, the 2023 budget packaged is made up of transformative infrastructural projects, inclusive social-economic interventions in healthcare, education, job creation and empowerment, industry enablers, among others, for our state.

“I solicit the understanding of the people of the state and enjoin them to pay their taxes. I also solicit the support of all the MDAs particularly the revenue generating ones to cooperate with the state internal revenue service in order to shore up the state’s independent revenue that will engender growth and development in the coming fiscal year.”

The governor commended the leadership and members of the House of Assembly, members of the state executive council, dedicated technocrats who have continued to improve on the existing standards in the state.

It will be recalled that Akeredolu on December 5, 2022, presented a total budget proposal of N272.736b to the State House of Assembly for approval and passage.

The lawmakers, however, passed a total budget of N275, 979, 184, 000.00 which was signed into law by the governor on Wednesday.

The house appropriation committee led by Hon. Akintomide Akinrogunde said the budget was increased in cognizance of the current economic realities in the country.

Speaking, earlier, the Speaker of the House of Assembly, Rt. Hon. Bamidele Oleyelogun, while presenting the 2023 appropriation bill to the governor, commended him for the priority attention given to all sectors of the economy of the state.

He said:”The pace of infrastructural development in the State is highly noticeable despite paucity of fund. All these are manifestation of Mr. Governor’s strong resolve and determination to take this state to the level he envisioned.

“Let me also commend him for the timely presentation of this fiscal document which led to its early passage.

“I, therefore, at this juncture, must commend and appreciate my distinguished honorable colleagues, the members of finance and appropriation committee, the clerk and staff of the assembly for their wonderful efforts and in ensuring that the appropriation bill is successfully passed into law at the record time.”

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