Ondo State Governor Lucky Aiyedatiwa signed the 2024 appropriation bill into law on Friday.
According to Platinumtimes, the appropriation bill was already passed by the Ondo State House of Assembly.
Last Monday, Aiyedatiwa (then an acting governor) presented the Assembly with an amount of N384.5 billion. The House, on the other hand, passed a bill totaling N395.257 billion.
This meant that more than N10 billion was added to the initial amount stated.
The budget titled ‘Budget of Economic Resilience’ includes N222,259,827,500.00 for capital expenditure and N172,997,172,500.00 for recurrent spending.
The governor verified that the House carefully reviewed and approved the budget.
He said,
“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.
“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.”
The governor commended the speaker and members of the state House of Assembly for the detailed work done and the prompt passage of the appropriation bill.
“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,” he stated.