The Ogun State House of Assembly on Friday approved the state’s 2020 budget proposal of N449.9 billion largely retaining the budget presented by the executive.
It, however, effected a slight increment of N2.1 billion for capital projects.
While the capital component was increased from N269.1 billion to N271.2 billion, the recurrent expenditure was slashed from N154.9 billion to N152.8 billion.
The Speaker, Olakunle Oluomo, presided over the passage of the bill at the plenary, following the presentation of the report of the house committee on finance and appropriation led by Olakunle Sobukanla.
Mr Sobukanla, thereafter, moved the motion for its adoption and was seconded by Sylvester Abiodun. The motion was unanimously supported by all the lawmakers through a voice vote.
In the report, there were slight adjustments in the recurrent expenses of six agencies, and the capital estimates of 19 others including the revenue targets of seven agencies.
The bill was read clause-by-clause before the lawmakers, by the Speaker, after which the Majority Leader, Yusuf Sheriff, moved the motion for the third reading, seconded by the Minority Leader, Ganiyu Oyedeji. The Acting Clerk of the Assembly, Deji Adeyemo did the third reading of the bill.
The speaker, passing the bill into law, commended his colleagues and staff of the Assembly for their dedication and support.
He said the timely passage of the bill was a Christmas cum new year gift for the people of the state.
It would be recalled the state governor, Dapo Abiodun, had on December 3 presented the budget proposal of N449.9 billion for the next fiscal year before the members of the State House of Assembly.
According to the governor, the annual fiscal estimate was targeted at ”reflecting the present administration’s determination to deliver on its electoral promises to the people.”