The Ondo State House of Assembly has passed the year 2024 budget into law .
With the passage, the Ondo State Government is to spend a total sum of N395,257,000,000.00 Billion in the 2024 fiscal year.
According to the budget N172.997.172,500.00 billion is for recurrent expenditure, while N222,259,827,500.00 billion is for capital expenditure.
The approved budget was increased by N10,724,,000,000 billion.
The budget, tagged “Budget of Economic Resilience” is higher than that of the 2023 fiscal year which was N275,979,184,000 Billion .
Presenting its report at a plenary presided over by the Speaker,Olamide Oladiji on Thursday the Chairman, House Committee on Finance and Appropriation, Oluwole Ogunmolasuyi said the Committee observed among others that the fiscal documents takes cognizance of the economic reality.
He therefore called on MDAs to ensure that provisions of the budget are applied to the needs stated therein.
He added that the State Government should take necessary steps that will propel all income generating MDAs to embark on more result oriented internally generated revenue drive in line with extant laws.
He advised that all MDAs that have desired to exceed their revenue generating targets should be given the required support to succeed.
The House had earlier committed the year 2024 budget proposal to the House Committee on Finance and Appropriation for scrutiny and defence by MDAs which ended last week.
Governor Lucky Aiyedatiwa had earlier presented a total Budget of N384,533 billion for the 2024 fiscal year to the State House of Assembly.
