Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, has signed the 2020 appropriation bill into law.

Education has the largest percentage of the budget provision, followed by infrastructure.

The Governor said the 2020 budget christened ‘Budget of Growth’, passed by the State House of Assembly, provides for aggregate expenditures of N187,858,525,273.00.

He said the amount is divided into N10.508 billion, representing 5.6% for Debt Servicing, N14,180 billion representing 7.6 % as Statutory Transfers to Ondo State Oil Producing Area Development Commission (OSOPADEC), Ondo State Internal Revenue Service (ODIRS) and 10% share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the State.

According to the Governor, the sums of N82.700 billion and N80.470 billion, representing 44.1% and42.7% are for Recurrent Expenditure and Capital Development respectively.
Arakunrin Akeredolu explained that the policy directions of the budget are largely the products of the inputs garnered during Town Hall meetings with various stakeholders across the State and the 5-point development agenda (the Blueprint to Progress) of his administration.

The Governor, who identified unavailability and inadequacy of required funds as one of the key challenges to budget implementation, said his administration has designed many ingenious and innocuous ways of bringing in more prospective payers into the tax net.

He said: ”One of the key challenges to budget implementation is unavailability and inadequacy of required funds. This is as a result of the recurring dwindling Ondo State’s share of the Federation Account. This is occasioned by a fall in oil revenue which incidentally, and regrettably too, provides over 80% of the country’s revenue receipts.

“The Independent Revenue, even though has increased substantially since the inception of our administration, has not grown to the level of delivering the State from depending on Federal Transfers.”

The Governor called on the good people of the State, both in the public and private sectors, Donor Partners, Non-Governmental Organisations (NGOs), Civil Society Organisations (CSOs), Community Based Organisations (CBOs) and others to join hands with the Government in the implementation, monitoring and evaluation of this budget in order to achieve the desired economic growth that would engender human capital development and emancipation of the people.

Arakunrin Akeredolu thanked members of the state House of Assembly, led by the Speaker, Rt. Hon. Bamidele Oloyelogun for the detailed scrutiny and passage of the budget in record time.

BrandSpurNG:

N187,858,525,273.00.

He said the amount is divided into N10.508 billion, representing 5.6% for Debt Servicing, N14,180 billion representing 7.6 % as Statutory Transfers to Ondo State Oil Producing Area Development Commission (OSOPADEC), Ondo State Internal Revenue Service (ODIRS) and 10% share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the State.

According to the Governor, the sums of N82.700 billion and N80.470 billion, representing 44.1% and42.7% are for Recurrent Expenditure and Capital Development respectively.

itsme01:



Lagos should just buy and anex part of Big for nothing Oyo state, if Ondo are having higher budget than us, even with our proximity to lagos


.

Sammy07:

How much is Oyo Budget?
Ondo state budget reduced compared to last year

itsme01:


Ondo with 3 - 4 million population 178bn

Oyo with 5 - 8 million population 213 bn

Sammy07:

, Oyo actually should have up to 500Bn.
Ibadan alone will consume 200B.

Ibadan is big, like 4 Nigeria states..

Then, I feel budget deals with revenue generation.
How the governor will generate the revenue is the koko

Then you know Ondo is part of Oil Producing state.. That's part of the revenue.
States government should find means to generate revenue, that's why I don't sometimes blame akeredolu for his Indian Hemp...

Ekiti is the only state in SW that I have pity to,

itsme01:


honestly that was why i suggested Lagos anexing Oyo vast useless land, since Lagos overflowed into Ogun their IGR started improveing greatly, Kebbi and Lagos collaboration on Agriculture earned millions for Kebbi, abeg Lagos should think of something they want from Oyo so we can benefit like Ogun and Kebbi


Honestly Akeredolu is on a class of his own, its a shame he doesnt make noise... when his cassava refinery is done, the money Ondo would make from ethanol would be massive

madone:
All this budgeting thing is nonsense call the citizens give them their share kf the money and leave things. ..

Goalnaldo:
see reasoning. Do you realise that 187b divided by 6m people ( they could be more than that.i just use the average population of each state) is ₦31166. Wetin that one go do for your life.

madone:
it will get u a better android phone to know what u will quote and what not to quote

Sammy07:

What you initially said is rubbish.
So you need the advice better

madone:
what is the parameter for measuring the things I post here If they make sense to u or not. U don't have to quote me Just say ur own and leave me I owe u nothing sir

Sammy07:

You Forgot.

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