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Akeredolu signs N174billion Ondo 2021 appropriation bill into law
On
Dayo Johnson – Akure
Governor, Rotimi Akeredolu of Ondo state has signed the N174 billion 2021 appropriation bill into law.
The appropriation bill was presented to the governor for signing by the speaker of the state House of Assembly, Rt. Hon. Bamidele Oleyelogun at the Governor’s office, Alagbaka, Akure.
Akeredolu said the 2021 budget is meant to sustain the hopes of the people.
He pointed out that “the 2021 Budget, has a total Budget size of N174.873 billion. Out of this amount, N13.633 billion representing 7.8% is for Debt Service; N12.241 billion representing 7.0% is for Statutory Transfers to OSOPADEC and the 10% Share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the State.
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Ondo State Governor, Rotimi Akeredolu, has signed into law the 2021 appropriation bill which passed the third reading on the floor of the state House of Assembly.
The 2021 approved budget signed by Akeredolu is over N174b, out of which N13.63b representing 7.8 percent is for debt Service; Ni2.24b representing 7.0 percent is for Statutory Transfers to OSOPADEC and the 10 percent Share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the state.
Akeredolu explained that the sum of N79.084b which represents 45.2 percent and N69.915 billion, which is 40.0 percent are for Recurrent Expenditure and Capital Expenditure respectively.
By Ayodeji Alabi
Akure, Dec.18, 2020 Gov. Oluwarotimi Akeredolu of Ondo State on Friday signed the state’s 2021 Appropriation Bill of N174.87 billion into law.
Signing the bill in Akure, the governor expressed hope that the ‘Budget of Hope’ would reactivate the economic life of the state through technical and technological education.
He said that Education had been allocated 19.07 per cent of the budget, while 21.19 per cent was set aside with a view to ensuring that all ongoing infrastructural projects across the state were completed.
A total of N13.633 billion, representing 7.8 per cent is for Debt Service, while N12.241 billion, representing 7.0 per cent, is set aside for Statutory Transfers to Ondo State Oil Producing Areas Development Commission.
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