The Governor of Ondo State, Lucky Aiyedatiwa has signed the state appropriations bill was signed into law
ADULAWO News reports that the appropriations bill was earlier passed by the Ondo State House of Assembly.
Last Monday, Aiyedatiwa gave the Assembly a sum of N384.5 billion. But the House did approve N395.257 billion.
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This meant that more than N10 billion had been added to the original amount that was submitted to the State Assembly.
N222,259,827,500.00 was set aside for capital expenditures in the budget labelled the “Budget of Economic Resilience,” while N172,997,172,500.00 was designated for recurrent expenditure.
According to him, “After extensive deliberation involving interface with all MDAs and the judiciary, the size of the approved budget for 2024 stands at N395,257,000,000.00 only.
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“Out of this amount, a sum of N222,259,827,500.00 only, representing 56.23 per cent is for capital expenditure while a sum of N172.997,172,500.00 only, representing 43.77 per cent is to cover the recurrent expenditure.
“I must put on record that generally, 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 (Akeredolu) which must be sustained.”