Akeredolu presents 159bn budget proposal for 2021

The Ondo State Governor, Oluwarotimi Akeredolu has presented 2021 budget proposal to the State House of Assembly.

The budget tagged “budget of hope” was presented at the plenary of the state legislature by Commissioner for Economic Planning and Budget, Emmanuel Igbasan, who represented the governor at the occasion.

The 2021 budget proposal which has a total of 159bn is higher than the N151 billion budgeted for 2020 fiscal year.

The 2021 proposed budget was said to have been prepared on the projections of the 2021 to 2023 Medium-Term Expenditure Framework (MTEF) as required by Fiscal Responsibility Law passed by the state House of Assembly.

A total sum of N103billion naira has been budgeted for recurrent expenditure and a sum of N56 billion for capital expenditure.

Over N13 billion was also voted for debt services and N12billion for statutory transfer.

While receiving the budget, the Speaker, Bamidele Oleyelogun, applauded the governor for giving priority to all sectors, to ensure all-round development of the state.

Oleyelogun assured that the Assembly would do the needful before the proposed budget estimates are passed into law.

On his part, Commissioner for Economic Planning and Budget, Emmanuel Igbasan posited that the budget is all inclusive to meet the aspiration of the people.

He expressed confidence in the state assembly that the proposed appropriation law will be given speedy passage in the interest of all and sundry in the state.