Ondo assembly passes 2022 budget of N199bn

The Ondo State House of Assembly has passed N199 billion budget for the 2022 fiscal year into law.

The Chairman House Committee on Finance and Appropriation, Mr Sunday Olajide while presenting the budget estimates during plenary noted that the budget was increased by N6.9 billion.

Reports state that Gov. Rotimi Akeredolu, presented a budget proposal of N191.6 billion for the 2022 fiscal year, tagged: “Budget of Economic Re-Engineering.”

Olajide noted that N112.9 billion is for recurrent while N885.6 billion is for capital expenditure.

The committee urged all Ministries, Departments & Agencies (MDA’s) to collaborate with the State Internal revenue service to ensure that the goals and objectives of Government to boost internally generated revenue are pursued with all seriousness.

Speaker Bamidele Oleyelogun, commended the committee members for a thorough job and quick passage of the budget.

Oleyelogun noted that the 2022 fiscal budget of Economic Re-engineering will further drive the growth of the economy and will mark the beginning of new projects and programmes that are crucial to the development of the state.