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Akeredolu signs Ondo 2021 Appropriation Bill into law

By - - [ General ]

Ondo to construct a jetty — Akeredolu
Rotimi Akeredolu

Gov. Oluwarotimi Akeredolu of Ondo State on Friday signed the  state’s 2021 Appropriation Bill of N174.87 billion into law.

Signing the bill in Akure, the governor expressed hope that the ‘Budget of Hope’ would reactivate the economic life of the state through technical and technological education.

He said that Education had been allocated 19.07 per cent of the budget, while 21.19 per cent  was set aside with a view to ensuring  that all ongoing infrastructural projects across the state were completed.

A total of N13.633 billion, representing 7.8 per cent  is for Debt Service, while N12.241 billion, representing 7.0 per cent, is set aside  for Statutory Transfers to Ondo State Oil Producing Areas Development Commission.

Also, 10 per cent  is the share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Government Areas of  the state.

“The sum of N79.084 billion – 45.2 per cent  and N69.915 billion – 40.0 per cent  are for Recurrent Expenditure and Capital Expenditure respectively,” Akeredolu said.

Earlier, Mr Bamidele Oleyelogun, Speaker, Ondo State  House of Assembly, said an initial amount of N159.7 billion was presented to the assembly, but was increased to N174.87 during the course of scrutiny.

He said that some items were increased in the budget in the interest of the state.

The speaker pledged the commitment of the legislature to a smoother working relationship with the executive arm. (NAN)

Vanguard News Nigeria

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