Ogun Assembly passes 2024 Appropriation Bill of N703bn

Ogun House of Assembly passed the state’s 2024 Appropriation Bill of N703.028 billion on Thursday after reviewing the capital and recurrent expenditures of 18 Ministries, Departments and Agencies (MDAs).

Hon. Musefiu Lamidi (APC-Ado Odo Ota II), the House Committee Chairman on Finance and Appropriation, earlier presented the report of the committee on the budget to the Committee of the whole House.

He subsequently moved a motion for its adoption and was seconded by Hon. Damilola Soneye (APC-Obafemi Owode).

According to the report, the first schedule saw to the upward review of recurrent expenditure in the budget proposals for some ministries,

There was the slashing of revenue target from N210.24 billion to N198.74 billion, a reduction of N11.5 billion

Revenue from excess crude was raised from N3.84 billion to N13.84 billion, an increase of N10billion.

Anticipated capital receipt was increased from N128.37 billion to N136.87 billion, an upward review of N8.5 billion.

The bill was later considered and adopted clause-by-clause by the Committee of Supply led by the Speaker, Hon. Olakunle Oluomo (APC-Ifo I).

The Majority Leader, Yusuf Sheriff (APC-Ado Odo Ota I) moved the motion for the third reading of the bill and was seconded by the Minority Leader, Lukman Adeleye (PDP-Odogbolu).

Mr Deji Adeyemo, the Clerk of the House, took the third reading of the bill.

Speaker Oluomo directed that a clean copy of the bill be transmitted to Gov. Dapo Abiodun for his assent.

Abiodun presented a 2024 budget of N703.028 billion to the House in November.

It was made of N415.65 billion for capital expenditure, and N287.37 billion for recurrent expenditure.