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2024 N703bn budget approved by Ogun assembly

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Various government Ministries, Departments and Agencies appeared before the various committees of the House of Assembly to defend their allocated amounts.

During its Thursday sitting, the assembly passed the bill, reviewing the capital and recurrent expenditures as well as projected revenue of 18 MDAs.

The Bill was titled: ‘No. 011/OG/2023- “A Bill for a Law to authorize the issue and Appropriation of the sum of N703bn from the Consolidated Revenue Fund for  the Services of Ogun State Government of Nigeria for the Financial Year Ending Thirty-First day of December Two Thousand and Twenty-Four’.

The appropriation bill was passed following the presentation of the report of the House Committee on Finance and Appropriation by its Chairman, Musefiu Lamidi, who subsequently moved the motion for its adoption, seconded by Damilola Soneye and supported by the whole house through a voice vote.

Consequently, the bill was later read and adopted clause-by-clause by the Committee of Supply led by the Speaker,  Olakunle Oluomo, during a  plenary held at the Assembly Complex, Oke-Mosan, Abeokuta.

“According to the report, the first schedule saw the upward review of the recurrent expenditure in the budget proposals of the state Ministries of Industry, Trade and Investments; Agriculture, Forestry, Transportation, Community Development and Cooperatives, Rural Development, Culture and Tourism, Education, Science and Technology, likewise TRACE and State Waste Management Authority.

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

“Therefore, the change led to a reduction in total revenue target of government leading to a downward review from N210.248bn to N198.748bn giving a reduction of N11.5bn, while revenue from the excess crude was jacked up from N3.845bn to N13.845bn resulting in an increment of N10bn, just as capital receipt was moved from N128.372bn to N136.872bn giving an upward review of N8.5bn,” a release from the assembly read.

The report of the committee 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.

The Majority Leader, 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.

Thereafter, Mr. Deji Adeyemo, the Clerk and Head of Legislative Service, took the third reading of the bill before the lawmakers.

The Speaker directed that the clean copy of the bill be transmitted to the state governor for his assent, “so that the people of the state would begin to enjoy more democratic dividends from the first day of the next fiscal year.”

The 2024 Appropriation Bill presented by Abiodun consisted of N415.656bn for capital expenditure, and N287.37bn to cater for recurrent expenditure.

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