Friday Omosola
Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, has signed into law the 2022 appropriation bill with an assurance that the budget will be implemented to further set free dividends of good governance to the people of the state.
The 2022 Budget, christened the ‘Budget of Economic Re-engineering’, has a total sum of N199.282 billion.
In a statement by the Chief Press Secretary to the Governor, Richard Olatunde, noted that the Governor who spoke at the Cocoa Conference Hall of the Governor’s office, Alagabaka, Akure, the state capital, said the main concentration of the Budget is Human Capital Development and Infrastructural Re-engineering.
“The main focus of this Budget is Human Capital Development and Infrastructural Re-engineering to be achieved through Educational Advancement, Prioritization of fund allocation to ongoing projects, intensifying efforts on Independent Revenue Generation, leveraging Donor and Development Partners’ support in funding key intervention programmes, among others.”
Out of the amount, N13.872 billion, representing 6.96% is for Debt Service; N13.058 billion, representing 6.55% is for Statutory Transfers to OSOPADEC, ODIRS and the 10% share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the State.
The sums of N113.315 billion and N85.968 billion representing 56.86% and 43.14% are for Recurrent Expenditure and Capital Development respectively.
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Governor Akeredolu noted that the Legislature and the Judiciary Autonomy which has been signed into Law by his administration will as well be implemented in the 2022 budget.
However, he disclosed that no ongoing project will be abandoned, stating that the construction of a new High Court Complex and the Customary Court of Appeal will commence next year.
According to him, “The 2022 Budget was prepared based on the inputs generated during our town hall meetings with various stakeholders across the State, putting into consideration the strategies necessary in achieving the new 8-point development agenda tagged “REDEEMED” of our administration.
“This agenda represents our focus through which our dreams and aspirations for the State shall be translated into feasible, tangible, and life-transforming projects and programmes in the 2022 fiscal year.”
He further called on the Ministries, Departments, and Agencies (MDAs) to continue to work in synergy for the development of the state.
