Ondo State Governor, Lucky Aiyedatiwa has signed the 2024 budget totalling N395 ,257 billion into law
The budget was signed on Friday at the Governor’s office in Akure, after it was passed by the State House of Assembly.
Aiyedatiwa, had last week Thursday, presented the 2024 Budget Estimates of N384b to the State House of Assembly for legislative consideration.
Speaking at the ceremony, the governor said that “the size of the approved Budget for 2024 stands at Three Hundred and Ninety-Five Billion, Two Hundred and Fifty-Seven Million Naira (N395,257,000,000.00) “
“Out of this amount, a sum of Two Hundred and Twenty-Two Billion, Two Hundred and Fifty-Nine Million, Eight Hundred and Twenty-Seven Thousand, Five Hundred Naira (N222,259,827,500.00) only, representing 56.23% is for Capital Expenditure while a sum of One Hundred and Seventy-Two Billion, Nine Hundred and Ninety-Seven Million, One Hundred and Seventy-Two Thousand, Five Hundred Naira (N172.997,172,500.00) only, representing 43.77% is to cover the Recurrent Expenditure.
The governor, thanked “the Speaker, the Deputy Speaker, the Chairman and Members of House Committee on Appropriation and all Honourable Members for the detailed scruitinization and prompt passage of the 2024 Appropriation Bill.
He said that “this Administration has enjoyed a very cordial relationship with the Legislature and this has enabled us to deliver considerably on our promises to our people. This is a good legacy of our dear Arakunrin which must be sustained.
“The Executive Arm of Government will put its shoulder to the wheel to implement the 2024 Budget with the required probity and transparency it deserves.
Aiyedatiwa assured the people of the state that the ” administration would continue to put measures in place to cushion the effects of increase in Petro increase until we are able to weather through the storm, hopefully shortly
The approved budget was increased by N10,724,000,000 billion.
