NAN-H-59
Budget
By Ayodeji Alabi
Akure, June 20, 2017 (NAN) Gov. Oluwarotimi Akeredolu of Ondo State on Tuesday said his administration would check the disproportionate percentage in budgetary allocation to capital and recurrent expenditures.
Akeredolu said this in Akure while signing the 2017 Appropriation Bill into law.
He said the huge deficit in various sectors needed to be addressed, adding that this informed the move to redress the imbalance between recurrent and capital expenditures.
“This bill has provision of N170,846,580,000 billion broken into Debt Service (Principal) N8.127 billion, Statutory Transfers N8.374 billion, Recurrent Expenditure N95.159 billion and Capital Expenditure N59.187 billion.
“These fiscal estimates have been scrutinised meticulously to capture the aspirations of this administration on real development.
“It is important to state that the government has initiated special intervention strategies on agriculture, job creation, infrastructure, education, technology and rural development,” he said.
Akeredolu also said his administration was committed to boosting revenue generation.
“We shall devise means of plugging loopholes exploited by unscrupulous elements to deny the state of deserved revenue,” he added.
Earlier, Mr David Oleyeloogun, the Speaker of Ondo State House of Assembly, had commended members for their cooperation and commitment toward making the budget a reality.
The News Agency of Nigeria (NAN) reports that the bill was passed on Monday by the assembly. (NAN)
AYO/AAB/OJO
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(Edited By Adeboye Ajayi/Mufutau Ojo)