The Governor of Ondo State, Rotimi Akeredolu, SAN, on Friday signed the 2022 appropriation bill into law with an assurance that the budget will be implemented to further deliver dividends of good governance to the people of the state. The 2022 Budget, christened the ‘Budget of Economic Re-engineering’, has a total sum of N199.282bn.
He said out of the N199.282bn, N13.872bn, representing 6.96 per cent is for Debt Service; N13.058bn, representing 6.55 per cent is for Statutory Transfers to OSOPADEC, ODIRS and the 10 per cent share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of local governments in the state. The sums of N113.315 billion and N85.968 billion representing 56.86 per cent and 43.14 per cent are for Recurrent Expenditure and Capital Development respectively.
Governor Akeredolu, who spoke at the Cocoa Conference hall of the Governor’s office, Alagbaka, Akure, the state capital, said the main focus of the Budget is Human Capital Development and Infrastructural Re-engineering. The Governor said, “The main focus of this Budget is Human Capital Development and Infrastructural Re-engineering to be achieved through Educational Advancement, Prioritization of fund allocation to ongoing projects, intensifying efforts on Independent Revenue Generation, leveraging Donor and Development Partners’ support in funding key intervention programmes, among others.”
The Governor disclosed that the Legislature and the Judiciary Autonomy which has been signed into Law by his administration will be implemented in the 2022 budget. Akeredolu also assured that no ongoing project will be abandoned, adding that the construction of a new High Court complex and the Customary Court of Appeal will commence next year.
He said, “The 2022 Budget was prepared on the basis of the inputs generated during our town hall meetings with various stakeholders across the State, putting into consideration the strategies necessary in achieving the new 8-point development agenda tagged “REDEEMED” of our administration. “This agenda represents our focus through which our dreams and aspirations for the State shall be translated into feasible, tangible and life transforming projects and programmes in the 2022 fiscal year.”
Ministry of Economic Planning and Budget