Gov Aiyedatiwa signs N395.257bn 2024 budget, to complete ongoing projects

Ondo State Governor, Lucky Aiyedatiwa, has signed the 2024 Appropriation bill of N395.257 billion, named Budget of Economic Resilience.

After the State House of Assembly passed the bill, Governor Aiyedatiwa assented to it, emphasising its aim to promote economic growth and State development.

In a statement, his Chief Press Secretary, Ebenezer Adeniyan, highlighted the budget’s focus on human capital development, environmental sustainability, rural development, and the completion of ongoing infrastructural projects initiated by the late former Governor Oluwarotimi Akeredolu.

“The size of the approved Budget for 2024 stands at Three Hundred and Ninety-Five Billion, Two Hundred and Fifty-Seven Million Naira (N395,257,000,000.00). Out of this amount, a sum of Two Hundred and Twenty-Two Billion, Two Hundred and Fifty-Nine Million, Eight Hundred and Twenty-Seven Thousand, Five Hundred Naira (N222,259,827,500.00) only, representing 56.23% is for Capital Expenditure while a sum of One Hundred and Seventy-Two Billion, Nine Hundred and Ninety-Seven Million, One Hundred and Seventy-Two Thousand, Five Hundred Naira (N172.997,172,500.00) only, representing 43.77% is to cover the Recurrent Expenditure.

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“The focus of this Budget is human capital development. We would keep meeting salary, pension and gratuity obligations. Emphasis would also be placed on climate change, clean and sustainable environment, rural development, and food security.”

Aiyedatiwa thanked the State Assembly members for quickly passing the bill and highlighted the importance of transparency in implementing the budget.

He assured that the Executive Arm of Government would diligently implement the 2024 Budget with the necessary probity and transparency.

Governor Aiyedatiwa acknowledged the impact of the recent petrol subsidy removal and assured the state’s people of measures to alleviate its effects. He affirmed that the administration would continue implementing measures until the situation improves.

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The signing of the N395.25 billion 2024 Budget is a significant step in advancing Ondo State’s economic agenda, prioritizing human development, and ensuring fiscal sustainability.

The Commissioner for Budget and Economic Planning, Mr Emmanuel Igbasan, stated that the budget would bring much-needed relief and economic prospects to the people. He added that the budget aims to provide the people with the succor and economic hope they deserve.

The Speaker of the House of Assembly, Mr Olamide Oladiji, led members of the Assembly to the event while the Secretary to the State Government, Princess Oladuni Odu, the Chief of Staff to the Governor, Chief Olugbenga Ale, Commissioner for Finance, Mr. Wale Akinterinwa and other members of the State Executive Council were present.