April 17, 2024
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Governor, Oluwarotimi Akeredolu of Ondo State has signed the state N199.2 billion 2022 budget into law.
Speaking at the ceremony on Friday in Akure, Akeredolu explained that the budget was prepared based on the global and national economic outlook.
He said that the budget also took into consideration the national inflation rate, national gross domestic growth rate, ever unpredicted oil price and production bench mark.
The governor, explained that the budget was prepared through the input generated during the town hall meeting and adoption of the national chat of account.
“About 13.872 billion representing 6.69 per cent is for debt service, N13.05billion representing 6.55 per cent is for statutory transfer to OSOPADEC, ODIRS and 10 per cent of share independent revenue of Joint Account and Allocation Committee(JAAC) of local government in the state.
“The sum of N113billion and N85.968billion representing 56.8 per cent and 43.14 per cent are for the recurrent expenditure and capital development representatively.
“So, everything was taken into consideration but the main focus of this budget is human capital development and infrastructural re-engineering.
“In spite of the little resource, let me assure you that we would make efforts to ensure that the budget is implemented to the letters. And our people will see the divided of good governance,” he said.
According to him, we are determined not to abandon ongoing projects and one or two projects may be added such as high court and customary court of the appeal building complex.
He, therefore, solicited the cooperation of all government Ministries, Departments and Agencies (MDAs) towards generating more revenues for the state.
“Let me solicit your understanding and support of all especially MDAs to continue to cooperate and collaborate with one another for the development of stronger of Ondo state.
“Without cooperation would not get to anywhere all of you should continue to cooperate, continue to collaborate so that at the end of the day there will be prosperity, peace and progress in the state.
“Let the spirit of unity and cooperation and collective responsibility take root now. We want one administration and one house of assembly for the development of the state,” he said.

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