The Ogun State House of Assembly has passed the 2024 Appropriation Bill of N703 billion after reviewing the proposed spending by 18 ministries, departments, and agencies of government.

The bill, tagged No 011/OG/2023, was presented to the assembly by the state governor, Dapo Abiodun, barely four weeks ago.

DAILY POST reports that the governor presented a total of N703,028,013,431.64 as the 2024 Appropriation Bill to the state legislature, consisting of N415.656 billion for capital expenditure and N287.37 billion for recurrent expenditure.

After government agencies and departments appeared before the legislature’s House Committee on Finance and Appropriation, led by Musefiu Lamidi, the committee insisted that the proposed spending of 18 ministries, departments, and agencies be reviewed.

According to the committee’s report, the first schedule saw an upward review of the recurrent expenditures in the budget proposals of the state ministries of Industry, Trade, and Investments; Agriculture, Forestry, and Transportation; Community Development and Cooperatives; Rural Development; Culture and Tourism; Education, Science, and Technology; TRACE; and Waste Management Authority.

Others that had their recurrent expenditures reviewed upward are the Bureau of Lands and Survey and the State Planning and Development Permit Authority, amongst others.

The change led to a reduction in the total revenue target of the government, leading to a downward review from N210.248 billion to N198.748 billion, giving a reduction of N11.5 billion, while revenue from the excess crude was increased from N3.845 billion to N13.845 billion, resulting in an increment of N10bn.

The capital receipt was moved from N128.372 billion to N136.872 billion, giving an upward review of N8.5 billion.

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.

Meanwhile, at the plenary, the Majority Leader of the House, 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 taking the third reading, the Speaker of the Assembly, Olakunle Oluomo, directed that a clean copy of the appropriation bill be transmitted to the state governor for his assent.

Ogun Assembly passes N703bn budget for 2024

Leave a Reply

Your email address will not be published. Required fields are marked *