The Ondo State House of Assembly has passed the 2014 Appropriation Bill after the debate by members with an increase of the fiscal proposal from the N162 billion presented by Gov. Olusegun Mimiko to N168 billion.
The bill, as presented by the governor on Dec. 31, 2013, had N92.319 billion as capital expenditure and N69.681 billion as recurrent expenditure
Speaking at plenary, the Deputy Speaker, Hon. Dare Emiola said that the budget tagged, ‘A Caring Heart Budget V,’ was approved to fast track completion of on-going projects across the state.
“The House Committee on Finance and Appropriation, having made a comparative analysis between last year’s budget and the proposal under consideration, observed some lapses in the previous year’s spending.
“The essence of the comparison was to avoid unrealistic budgeting and also to keep within the focus and policy thrust of government,” he said.
According to him, the House recognised the need to accommodate some important demands made by MDAs.
The adjustment to the budget puts recurrent expenditure at N71.9 billion, accounting for 43 per cent of the budget.
The bill also raised capital expenditure to N96. 05 billion, representing 57 per cent of the budget.
The Chairman, House Committee on Finance and Appropriation, Mr Fidelis Akinwolemiwa, commended the lawmakers over the final passage of the bill.However, the bill awaits the assent of the governor.
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