The Ondo State Governor, Lucky Aiyedatiwa has signed the 2024 budget into law.
Aiyedatiwa presented the budget as an acting governor with a sum of N384.5 billion to the Assembly last week.
However, the House passed a sum of N395.257 billion, with an indication that a sum of over N10 billion was added to the initial amount presented.
In the budget tagged ‘Budget of economic resilience’, a sum of N222,259,827,500.00 was earmarked for capital expenditure, while recurrent expenditure is to gulp N172,997,172,500.00.
The governor confirmed that the House had carefully examined the budget and passed it.
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.”
He commended the speaker and members of the State House of Assembly for the very good work carried out as well as 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.”
The governor vowed to sustain the legacy of the former governor, late Arakunrin Rotimi Akeredolu.
