Governor Rotimi Akeredolu of Ondo state has presented a budget of N159 billion to the state House of Assembly for the 2021 fiscal year. The Commissioner for Budget and Economic planning, Mr Emmanuel Igbasan who presented the budget on behalf of Governor Rotimi Akeredolu noted that the 2021 budget “is meant to rekindle people’s hope in the face of very serious social, economic and difficult challenges, triggered by the covid-19.
Tagged “Budget of Hope, it has a recurrent expenditure profile of One Hundred and Three Billion, Twenty-One Million, Nine Hundred and Eighty Thousand, Three Hundred and Ninety- Three Naira and Thirty-Four Kobo and Capital Expenditure profile of Fifty-Six Billion Naira, Seven Hundred and Seventy-Four Million, One Hundred and Thirty- Two Thousand, Two Hundred and Sixty- Seven Naira and Thirty -Nine Kobo.
He added that the state had in the last three and a half years embarked on a number of initiatives which have earned her special accolades maintaining that the year 2021 budget will consolidate on the previous achievements through aggressive revenue generation towards ensuring delivery of more democratic gains.
The Economic and Social Sectors have the highest allocation in the 2021 budget estimate. This, the Governor said is borne out of desire to stimulate the entire economy of the state, create jobs for the unemployed youth and provide care for the less privileged in the society through the Social Inclusion Programme.
This year’s budget is to be funded through statutory allocation, mineral derivation fund, value added tax, internal revenue, grants, other capital receipts and finvalue-added
Receiving the budget proposal Speaker of the House, Rt. Honourable Bamidele Oleyelogun noted that the year 2021 budget will impact immensely on the lives of the citizenry. Oloyelogun said that the “budget offers another opportunity to examine the fundamental linkages between our past as a people, the issues that occupy our present concerns as well as the vision, hopes and aspirations for the future of our state.
The Speaker appreciated Governor Akeredolu for the successful transmission of the budget to the House most especially the attention accorded every sector of the economy. He acknowledged the spate of infrastructural development in the last three and a half years, attributable to the commitment of the governor, even in the face of dwindling resources.
The Speaker pledged that the fiscal document will be given the desired legislative attention. The Chairman House Committee on Finance and Appropriation, Honourable Olajide Sunday pledged to give the budget document accelerated treatment.
