Governor Rotimi Akeredolu on Monday presented the N272.736 billion 2023 budget to the Ondo State House of Assembly for consideration and approval. 

Mr Akeredolu revealed that N143.51 billion of the “Budget of Shared Prosperity” was earmarked for capital expenditure and N129.224 billion for recurrent expenditure.

According to the governor, the 2023 budget was prepared based on the inputs garnered during town hall meetings with various stakeholders across the state.

He noted that the budget was tailored towards achieving the REDEEMED agenda of his administration, which is in tandem with the Sustainable Development Goals (SDGs).

Mr Akeredolu added that the projects and programmes carefully selected in the budget cut across critical areas of infrastructure and environment, education, health, social safety-net, security, and industrialisation, among others.

In fulfilling the aims and objectives of the 2023 budget proposal, the Ondo governor said his administration would pursue a policy stance that will entrench efficient spending, curb waste, engender inclusivity, and enable excellent service delivery.

“Notwithstanding the present climate of uncertainty, we are steadfast in our resolve to put the economy on the sustainable path to realize its full growth potential. 

“By the grace of the Almighty God, we shall leave no stone unturned as we continue to build a strong, vibrant and resilient economy, powered by good governance and people-centred programmes,” Mr Akeredolu told the Ondo lawmakers. 

The governor commended the speaker and other legislators for their timely consideration of the 2023-2025 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) as well as the passage of the 2022 Revised Appropriation Bill.

In his remark the Assembly Speaker, Bamidele Oleyelogun, appreciated the governor for the “total overhauling, renovation and commissioning of our Legislative Chamber equipped with the State of the earth materials and gadgets. 

“The ninth (9th) Assembly is particularly proud of you and we are assuring you of our unalloyed loyalty, commitment and dedication to work,” the speaker further said.

Peoples Gazette observed that the 2023 budget proposal is higher than that of the total projected budget outlay for the 2022 Fiscal year of N199 billion.