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Ondo Assembly passes 2017 budget


Ondo Assembly passes 2017 budget

Peter Dada, Akure

After two weeks of presentation of the 2017 appropriation bill to the Ondo State House of Assembly by Governor Rotimi Akeredolu, the lawmakers on Monday passed the bill of N170bn into law.

However, the budget proposal was increased by N1.126bn from the initial N169.721bn. In the new budget, N95,159, 200.00 was earmarked for recurrent expenditure, N59,186,684.00 was proposed for capital expenditure while N8.1bn was earmarked for debt servicing.

Presenting the budget report to the House, the Chairman, House Committee on Appropriation, Mr. Sunday Olajide, said the budget was in order and would meet the expectations of the people of the state.

According to the report presented, the appropriation bill made provision for N8.3bn for statutory transfers for the services of the state for 2017.

Olajide explained that the committee redistributed the budget on some critical areas which brought about a marginal increase of N1,126,000,000.

“Hence, the overall budgetary provision will now be N170,846,580,000,” the lawmaker stated

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