Maroc - VERACITY.COM.NG - A La Une - 23/Oct 17:33

Ondo Assembly passes N96bn supplementary budget

The Ondo State House of Assembly has approved a supplementary budget of over N96 billion for 2024. Governor Lucky Aiyedatiwa had earlier submitted a proposal to raise the state's 2024 budget from N395 billion to N487 billion, citing the impact of the removal of fuel subsidies and the need to implement the recently announced N73,000 minimum wage for state workers.However, the House of Assembly, after reviewing the proposal, increased the total budget to N492 billion, marking a N96 billion increase.Presenting the report of the House Committee on Finance and Appropriation, the committee chairman and House Majority Leader, Hon. Oluwole Ogunmolasuyi (Owo 1/APC), emphasized the necessity of additional funding to meet the government's key objectives. He explained that due to inflationary pressures, many ministries and agencies had exhausted their budget allocations, and the supplementary budget would allow for continued development across the state.Ogunmolasuyi further noted that the revised budget would address the challenges posed by the fuel subsidy removal and ensure the payment of the new N73,000 minimum wage. He subsequently moved a motion for the bill's passage, which was seconded by Mr. Nelson Akinsuroju (Ile-Oluji/Oke-Igbo/APC).In addition to the supplementary budget, the House also passed two other bills into law: the 2024 budget for the 18 local government areas of Ondo State, and an amendment to the Oil Producing Areas Development Commission (OSOPADEC) law.At the plenary session, the Speaker of the House, Chief Olamide Oladiji, praised the assembly’s progress, calling the passage of the bills a significant milestone. He highlighted the need for the amendment to the 2024 appropriation law to accommodate the new minimum wage and critical developmental projects, given the current economic conditions.Oladiji also stressed that the amendments to the OSOPADEC law were overdue, as they would address existing gaps and align the commission's activities with current administrative realities. He expressed confidence that the changes would help end the era of abandoned projects in oil-producing areas of the state.With no legislative bodies currently in place at the local government level, the Speaker also emphasized the importance of passing the local government bill. The House adjourned the plenary until Thursday.