Ondo State Governor, Lucky Aiyedatiwa, has signed the 2024 appropriation bill of N395,257,000,000.00 into law. 

Mr Aiyedatiwa assented his signature on the bill on Friday, a few hours after the lawmakers of the State House of Assembly passed the bill at a plenary sitting. 

The assembly had jerked up the bill by over 10 billion naira. 

Last Thursday, Mr Aiyedatiwa, who was then acting governor, presented a total of N384,533,000,000.00 bill tagged “Budget of Economic Resilience” before the parliament. 

Speaking after assenting his signature, Mr Aiyedatiwa said the bill which has now become a law would provide the financial guidepost for the state’s fiscal operation in the year 2024. 

“In line with the Constitution of the Federal Republic of Nigeria, 1999, as amended, I am delighted today to give assent to the Ondo State 2024 Appropriation Bill which will provide the financial guidepost for the State’s fiscal operation in 2024.  

“You will all recall that on Thursday, 21st December 2023, I presented the 2024 Budget Estimates of N384b, christened Budget of Economic Resilience, to the State House of Assembly for legislative consideration.  The House, in its characteristic devotion to our people’s cause, has painstakingly considered the budget and passed same.

“After extensive deliberation involving interface with all MDAs and the Judiciary, 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) only,” the governor said. 

He, however, appreciated the Speaker of the House of Assembly, Olamide Oladiji for the detailed scrutinisation and prompt passage of the 2024 appropriation bill, stressing that the present administration has enjoyed a very cordial relationship with the state legislature. 

According to him, the executive arm of the government would put its shoulder to the wheel to implement the 2024 budget with the required probity and transparency it deserves by putting it on public display. 

“As we keep implementing people-centred projects and programmes in line with our REDEEMED Agenda, we will continue to improve on our revenue drive while cutting down on our recurrent costs in view of the prevailing economic realities.

“The focus of this Budget, as said in my Budget Speech, is human capital development. Emphasis would also be placed on climate change, clean and sustainable environment, rural development and food security while ongoing legacy infrastructure projects of our dear departed Governor, Arakunrin Oluwarotimi Akeredolu, SAN, CON would be completed,” Mr Aiyedatiwa added. 

The bill comprised N222,259,827,500.00 as capital expenditure while a total of N172,997,172,500.00 was penned for recurrent expenditure.