The Ogun State House of Assembly has passed the 2024 appropriation bill of N703.02 billion. Governor Dapo Abiodun had presented the budget for consideration to the legislators four weeks ago.
Also read; Access Holdings Plc appoints Abubakar Jimoh as Chairman
Governor Abiodun presented a total of N703,028,013,431.64 as the 2024 appropriation bill to the state legislature, consisting of N415.656bn for capital expenditure and N287.37bn to cater for recurrent expenditure.
The bill was titled, “A Bill for a Law to authorise the issue and appropriation of the sum of seven hundred and three billion, twenty-eight million, thirteen thousand, four hundred and thirty-one Naira, sixty-four Kobo only, from the Consolidated Revenue Fund for the Services of Ogun State government of Nigeria for the financial year, ending thirty-first day of December two thousand and twenty-tour.”
The passage of the bill followed the presentation of the report of the House Committee on Finance and Appropriation Chairman, Hon. Musefiu Lamidi, who subsequently moved the motion for its adoption, seconded by Hon. Damilola Soneye, and was supported by the whole house through a voice vote.
Consequently, the bill was later read and adopted clause-by-clause by the Committee of Supply, led by the Speaker, Rt. Hon. Olakunle Oluomo, during Thursday’s plenary, held at the Assembly Complex, Oke-Mosan, Abeokuta.
Vanguard reported that in the first schedule, there was an upward review of the recurrent expenditures in the budget proposals of the Ministries of Industry, Trade, and Investments: Agriculture, Forestry, Transportation, Community Development and Cooperatives, Rural Development, Culture and Tourism, Education, Science, and Technology, as well as TRACE and the State Waste Management Authority.
The Bureau of Lands and Survey and the State Planning and Development Permit Authority also had their recurrent expenditures jacked up.
There was a downward review of N11.5bn in the total revenue from N210.24bn to N198.74bn. The revenue from the excess crude was reviewed upwards by N10bn, from N3.84bn to N13.84bn.
The capital receipt was also moved from N128.37bn to N2136.87bn, an upward review of N8.5bn.
The report also indicated an increment in the proposed expenditures under the second schedule for the Office of Auditors General (State and Local) and Sustainable Development Goals.
The Majority Leader, Yusuf Sheriff, moved the motion for the third reading of the bill, seconded by the Minority Leader, Lukman Adeleye, and supported by the whole house through a voice vote, after which the Clerk/Head of Legislative Service, Mr. Deji Adeyemo, took the third reading of the bill before the lawmakers.
Subsequently, Speaker, Rt. Hon. Oluomo directed that a clean copy of the appropriation bill be transmitted to Governor Abiodun for his assent.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
