After sailing through the third reading,Ondo State House of Assembly has passed the year 2025 Appropriation bill into law.
The budget estimate of #698,659,496,000 has a total sum of 265,037,496,000 (47.94%) to recurrent expenditures, while 433,622,000,000(62.06%) is earmarked to capital expenditure.
The budget was increased by #43,429,496,000 above the #655,230 billion naira initially proposed by Governor Lucky Orimisan Aiyedatiwa when he presented the 2025 “Budget of recovery” to the Assembly.
This was made known today at a plenary presided over by the Speaker of the House,Rt.Hon(Chief) Olamide Oladiji, at the House of Assembly Complex, Akure.
The Chairman, House Committee on Finance and Appropriation, Honourable Oluwole Ogunmolasuyi had earlier presented the report of the committee after scrutiny, saying that the budget was adjusted to reflect the current economic realities, including the removal of fuel subsidy, fluctuating exchange rates and the recent minimum wage increase.
According to him, while the committee avoided granting additional requests from MDAS, except in critical areas,an increase of #43.43billion was approved to address essential needs.
The committee recommended that the State Government should take all necessary steps to ensure that the expected independent revenue target is attained and ensure that the schedules which accommodate necessary adjustments that are required to meet the urgent needs of the people of Ondo State are conscientiously applied to the needs, among others.
The House Majority leader, moved the motion for the bill to become law and seconded by the Deputy Speaker, Rt. Hon (Prince) Abayomi Akinruntan.
The House later unanimously passed the bill into law through voice votes.
Appreciating other lawmakers for a job well done for the bill to become a law,the Speaker, Rt. Hon. (Chief) Olamide Oladiji reiterated the determination of the legislative arm of government to continue to work harmoniously for the overall interest of the people of Ondo State at all times.He later expressed optimism that the budget would no doubt turn- around the economy of the State for good.
The House also passed a bill for a law to amend the Ondo State University of Medical Sciences law,2015 and a bill to prohibit forceful entry and illegal occupation of landed properties, violent and fraudulent conducts in relation to landed properties in Ondo State into law.
Plenary was later adjourned till 7th January,2025
