The Ondo State House of Assembly has passed over N96 billion 2024 supplementary budget.
Gov. Lucky Aiyedatiwa of Ondo State, had recently forwarded to the legislative house a bill for a supplementary budget of the 2024 budget from the initial N395 billion to N487 billion.
Aiyedatiwa had anchored his request for a supplementary budget on the effects of petrol subsidy removal and to enable implementation of N73,000 minimum wage recently announced for the state’s workforce
The House of the Assembly in its discretion increased the governor’s proposal to N492 billion amounting to increase of N96 billion.
Speaking after submitting the report of the House’s Committee on Finance and Appropriation, Hon. OLUWOLE Ogunmolasuyi, Owo 1/APC, said that there was need for additional funds for target goals of the government.
Ogunmolasuyi, who is the House Majority Leader and the chairman of the committee, stated that funds allocated to some government’s ministries, agencies had been exhausted because of inflationary pressure on the signed 2024 budget.
He added that the revised budget would give a clear expression for rapid development in the state.
The chairman explained that the revised budget would cushion the effect of fuel subsidy removal as well as the need to service the new minimum wage of N73,000.
Ogunmolasuyi, therefore, moved a motion for the bill to be passed into law and Mr Nelson Akinsuroju, Ile-Oluji/Oke-Igbo/ APC.
The House of Assembly also passed other two bills into laws: A bill to provide for the 2024 budget of the 18 local government areas of Ondo State and a bill to provide for the amendment of the Oil Producing Producing Areas Development Commission law.
Speaking at the plenary, the Speaker of House of Assembly, Chief Olamide Oladiji, said that the assembly had recorded another milestone in the annal of history.
Oladiji explained that there was an urgent need for the amendment of the 2024 appropriation law to accommodate the new minimum wage and some developmental projects in the state due to to prevailing economic induces.
He noted that the amendment in the law that established OSOPADEC was overdue because the amendment would address all identified lacuna and would accommodate current administrative realities.
The speaker said that the amendment was to eradicate the era of abandoned projects by the commission.
Oladiji added that due to the fact that there was no legislative arm in place at the local government level in the state, there was need for consideration on the local government bill.
The House of Assembly adjourned the plenary to Thursday.