Ondo State Governor, Rotimi Akeredolu has signed the 2018 Appropriation Bill of one hundred and eighty-one billion naira into law. Akeredolu also signed the State Contributory Health Commission and the Social Protection Bills into law.
TVC’s Ayodeji Moradeyo reports that the Ondo State House of Assembly, had last week passed the 2018 budget
proposal, presented to the legislature by Governor Rotimi Akeredolu in December, 2017 after weeks of scrutiny.
The lawmakers increased the budget from N171bn to over N181bn (one hundred and eighty-one billion naira).
Apart from the 2018 Appropriation Bill, Governor Akeredolu also signed two other bills into law. The bills are the Contributory Health Commission Bill and the Social Protection Bill.
While assenting to the bills, Governor Akeredolu appreciated the legislators for the quick passage and assured them that they would be duly implemented for the development of the State.
Earlier, the Speaker of the State House of Assembly, Bamidele Oleyeloogun promised that the lawmakers will carry out effective oversight function towards successful implementation of the budget.
The chairman of the Ondo State Oil Producing Areas Development Commission (OSOPADEC), Gbenga Edema said the budget would fast track development in the State.
Christened budget of progress, the 2018 Appropriation Bill has N43.3bn (forty-three point three billion naira) as recurrent expenditure, while N80.9bn (eighty point nine billion naira) is earmarked for capital expenditure, the highest in the history of the State.