GOVERNOR Rotimi Akeredolu of Ondo State, yesterday, presented a budget proposal of N272.736 billion for the 2023 fiscal year to the State House of Assembly.
Akeredolu presented the budget, tagged: ‘Budget of Shared Prosperity’ to the lawmakers, during a plenary, presided over by the Speaker of the House, Mr. Bamidele Oleyelogun, in Akure.
He said N143.511 billion was budgeted for capital expenditure, while N129.224 billion was for recurrent expenditure.
The 2023 budget proposal is higher than that of the total projected Budget outlay for the 2022 Fiscal year which was N199,282, 437 billion.
Akeredolu said that the 2023 budget was prepared based on the inputs garnered during the Town Hall meetings with various stakeholders across the state.
He noted that the bugged was tailored towards achieving the REDEEMED agenda of his administration which is also in tandem with the Sustainable Development Goals (SDGs).
He said: “Notwithstanding the present climate of uncertainty, we are steadfast in our resolve to put the economy on the sustainable path to realize its full growth potential. By the grace of the Almighty God, we shall leave no stone unturned as we continue to build a strong, vibrant and resilient economy, powered by good governance and people-centred programmes.”
In his remarks, the Speaker of the Assembly, Mr Oleyelogun, affirmed that the presentation is in tandem with the provision of the Constitution of the Federal Republic of Nigeria 1999 (as Amended).