Ondo State House of Assembly Monday passed the state 2017 Budget
proposal of N170, 846,580billion transmitted to the House by Governor
Olurotimi Akeredolu into law penultimate week.
The Chairman of the House Committee on Finance and Appropriation,Sunday Olajide presented the report of the Committtee to the House.
He said the bill, having undergo proper scrutiny by its members and public sitting for all Ministries,Department and Agencies,(MDAs)the extremely restrained itself from granting indiscriminate request by MDAs because of paucity of fund.
Olajide noted that the committee only redistributed fund on some critical areas with a marginal increase by N1, 126,000,000.
The lawmaker said the overall budgetary provision would now be N170, 846,580,000.
Olajide highlighted the observation of the committee that the 2017 expenditurewas carefully projected and set at sustainable level with due to consideration for the present economic realities.
The committee however recommended that all MDAs should ensure that the provisions in the budget are applied to the needs stated therein.
Besides,it said the Board of internal Revenue should make vigorous efforts to block all identified leakages as much as possible.
The State government according to the committee should take all the steps necessary to propel all income generating MDAs to embark on internally generated revenue drive in line with extant laws with a view to attain their revenue target.
The Speaker of the House, David Oleyelogun appreciated all members of the Budget Committee for their effort and commended other members of the House for their cooperation and diligence in the process of working on the Budget proposal.
The budget has increased by N1,126,000,000 with the N169,720,580
billion earlier presented by the Governor on June 5,2017,making a total
sum of N170,846,580.billion
The new budget which put the Recurrent Expenditure at N95,159,200,000 billion ,capital expenditure at N59,186,681,884 billion,debt service at N8,126,698,115 billion and statutory transfer at N8,374,000,000.
The Assembly unanimously approved the Budget after members deliberated on the report of the House Committee on Budget which scrutinized the bill as proposed by the Governor.
The Chairman of the House Committee on Finance and Appropriation,Sunday Olajide presented the report of the Committtee to the House.
He said the bill, having undergo proper scrutiny by its members and public sitting for all Ministries,Department and Agencies,(MDAs)the extremely restrained itself from granting indiscriminate request by MDAs because of paucity of fund.
Olajide noted that the committee only redistributed fund on some critical areas with a marginal increase by N1, 126,000,000.
Olajide highlighted the observation of the committee that the 2017 expenditurewas carefully projected and set at sustainable level with due to consideration for the present economic realities.
The committee however recommended that all MDAs should ensure that the provisions in the budget are applied to the needs stated therein.
Besides,it said the Board of internal Revenue should make vigorous efforts to block all identified leakages as much as possible.
The State government according to the committee should take all the steps necessary to propel all income generating MDAs to embark on internally generated revenue drive in line with extant laws with a view to attain their revenue target.
The Speaker of the House, David Oleyelogun appreciated all members of the Budget Committee for their effort and commended other members of the House for their cooperation and diligence in the process of working on the Budget proposal.
The new budget which put the Recurrent Expenditure at N95,159,200,000 billion ,capital expenditure at N59,186,681,884 billion,debt service at N8,126,698,115 billion and statutory transfer at N8,374,000,000.
The Assembly unanimously approved the Budget after members deliberated on the report of the House Committee on Budget which scrutinized the bill as proposed by the Governor.
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