Ogun governor signs Budget of Continued Development And Prosperity into law

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Budget
Budget

The 2023 budget has been enacted by Ogun State Governor Dapo Abiodun.

In order to maintain the momentum of his administration’s “Building Our Future Together Agenda,” Governor Abiodun promised to see that every provision of the measure was fully implemented.

“This budget reflects the preferences of the residents of Ogun State. I can guarantee that we will see to it that the budget is carried out.

“Our people will reap the full fruits of democracy with this budget,” he said.

The State House of Assembly previously approved the N472,250,694,447.57b Appropriations Bill on December 29, 2022.

The Speaker and members of the House of Assembly received praise from the governor for their perseverance, which resulted in the budget’s passage before the end of 2022.

Governor Abiodun had presented the N472,250,694,447.58bn Budget of ‘Continued Development and Prosperity’, consisting of N270.41bn for capital projects, while N201.84bn was earmarked for recurrent expenditure, barely a month ago.

The signed budget has adjustments in the recurrent and capital estimates and projected revenue in 31 different areas across 26 agencies.

The adoption of the bill titled “H.B. NO. 084/OG/2022-Year 2023 Appropriation Law-A Bill for a Law for the Appropriation of the Sum of Four Hundred and Seventy-Two Billion, Two Hundred and Fifty Million, Six Hundred and Ninety Four Thousand, Four Hundred and Forty Seven Naira, Fifty-Seven Kobo Only from the Consolidated Revenue Fund for the Service of Ogun State

 Government, Nigeria for the Financial Year Ending Thirty-First Day December, Two Thousand and Twenty-Three’, was consequent upon the presentation of the report of House on November 17.

Ogun State House of Assembly passed the Bill as presented by the Committee on Finance and Appropriation led by its Chairman, Olakunle Sobunkanla, who also moved the motion for its adoption, seconded by his deputy, Ganiyu Oyedeji and subsequently supported by the Whole House through a unanimous voice vote.

The Bill was later read and adopted clause-by-clause by the Committee of Supply presided over by the Speaker, Olakunle Oluomo, during the plenary held at the Assembly Complex, Oke-Mosan, Abeokuta, the state capital.

Meanwhile, the recurrent expenditures of 22 MDAs were reviewed, while the capital expenses of four others were

The projected capital expenditure in the budget was reduced as a result of the changes from the initial N270, 411, 239,527 to N269,605,938,723.32, a difference of N805.3m, while the recurrent expenditure was increased from N201.839bn to N202.644bn, a difference of N805.3m.

The motion for the third reading of the bill was made by the majority leader, Yusuf Sheriff. It was seconded by the deputy speaker, Hakeem Balogun, and received support from the entire house. The third reading of the bill was performed in front of the members by the clerk/head of legislative service, Mr. ‘Deji Adeyemo.

Oluomo spoke on the House floor and gave the order to send the clean copy of the law to the governor for his approval.

A breakdown of the budget showed that N79.47 billion would be spent on personnel costs, N21.12 billion on social benefits and contributions, N39.90 billion on public debt charges, and N61.35 billion on overhead costs.


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