Akeredolu Signs N199.282B ‘Budget Of Economic Re-Engineering’ Into Law

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  • To Construct New High Court Complex
  • Legislature, Judiciary Autonomy Commences In Ondo

Deji Adebayo, Akure

Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, has signed the 2022 appropriation bill into law with an assurance that the budget will be implemented to further deliver dividends of good governance to the people of the state.

The 2022 Budget, christened the ‘Budget of Economic Re-engineering, has a total sum of N199.282 billion.

Out of the amount, N13.872 billion, representing 6.96% is for Debt Service; N13.058 billion, representing 6.55% is for Statutory Transfers to OSOPADEC, ODIRS and the 10% share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the State.

The sums of N113.315 billion and N85.968 billion representing 56.86% and 43.14% are for Recurrent Expenditure and Capital Development respectively.

Governor Akeredolu, who spoke at the Cocoa Conference hall of the Governor’s office, Alagabaka, Akure, the state capital, said the main focus of the Budget is Human Capital Development and Infrastructural Re-engineering.

“The main focus of this Budget is Human Capital Development and Infrastructural Re-engineering to be achieved through Educational Advancement, Prioritization of fund allocation to ongoing projects, intensifying efforts on Independent Revenue Generation, leveraging Donor and Development Partners’ support in funding key intervention programmes, among others,” he stressed.

Arakunrin Akeredolu disclosed that the Legislature and the Judiciary Autonomy which has been signed into Law by his administration will be implemented in the 2022 budget.

While assuring that no ongoing project will be abandoned, Governor Akeredolu stated that the construction of a new High Court complex and the Customary Court of Appeal will commence next year.

He stated: “The 2022 Budget was prepared on the basis of the inputs generated during our town hall meetings with various stakeholders across the State, putting into consideration the strategies necessary in achieving the new 8-point development agenda tagged “REDEEMED” of our administration.

“This agenda represents our focus through which our dreams and aspirations for the State shall be translated into feasible, tangible and life transforming projects and programmes in the 2022 fiscal year.”

The Governor called on the Ministries, Departments and Agencies (MDAs) to continue to co-operate and collaborate with one another for the development of the state.

The event was attended by the Speaker of the Ondo State House of Assembly, Rt. Hon. Bamidele Oleyelogun, and other members of the Assembly; the Chief Judge, Hon. Justice Williams Akintoroye, represented by Justice Temitope Adedipe; President of Customary Court of Appeal, Justice Eunice Alade; members of the State Executive Council and top government functionaries.

Richard Olatunde
Chief Press Secretary to the Governor of Ondo State.
December 24, 2021.

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