Akeredolu Sends N169bn Appropriation Bill to Ondo Assembly

Governor Rotimi AkeredoluOndo State Governor Rotimi Akeredolu
  • Akeredolu Sends N169bn Appropriation Bill to Ondo Assembly

The Ondo State Governor, Mr. Rotimi Akeredolu (SAN) on Tuesday sent 2017 Appropriation Bill of N169.720 billion to the state House of Assembly.

The Clerk of the assembly, Mr. Bode Adeyelu, presented the document at the plenary. In the budget proposal, a sum of N58.097billion was earmarked for capital expenditure while recurrent expenditure would gulp the sum of 95.123billion, and N8.127billion was proposed for debt services.

Also, the sum of N5.374billion was budgeted for statutory transfer.
During the plenary, the motion for the presentation of the budget was moved by the Majority Leaders of the assembly, Mr. Joseph Araoyinbo, and was seconded by the Deputy Speaker, Mr. Iroju Ogundeji.

After going through the second reading, the assembly ordered that the budget should be committed to the assembly Committee on Finance and Appropriation for further process on the passage.

Speaking on the bill, the former Speaker of the assembly, Mrs. Jumoke Akindele, urged the Committee on Appropriation to give the bill a speedy passage for the benefit of the people of the state.

She commended the governor for allocating a substantial amount to the Ondo State University of Science and Technology, Okitipupa, in the budget, and for paying attention to the institution since the coming on board of the present administration.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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