Akeredolu presents N191.6bn 2022 budget to Ondo Lawmakers

Governor Oluwarotimi Akeredolu of Ondo State on Tuesday presented the 2022 budget estimate of N191.6 billion tagged “Budget of Economic Re-Engineering” to the State House of Assembly.

Governor Akeredolu, represented by the Commissioner for Finance, Wale Akinterinwa, at the representation of the budget to the lawmakers noted that “the 2022 Budget projections represent an increase of 9.59 per cent over the 2021 budget, hence, the expansionary measures being pursued in the 2022 is carefully weighed option to weigh-in into the resultant fiscal resurgence envisage in 2022.”

The Governor emphasised that the 2022, government would rely on resources to secure N44.000 billion from the financial market to accelerate the pace of development and job creation in the state.

The 2022 budget proposal contains a total of N79.621 billion capital expenditure, N102.106 billion for recurrent expenditure, representing an increase of 7.15 percent over the 2021 allocation for recurrent expenditure.

Speaker of the Ondo State House of Assembly, Rt. Hon. Bamidele Oleyelogun, acknowledged the various ongoing development projects across the state executed by Governor Akeredolu. He, thereafter, gave the documented budget proposal to the House Committee on Finance and Appropriation for scrutiny.

Chairman of the House Committee on Finance and Appropriation, Sunday Olajide, commended the timely presentation of the budget proposal by the governor, promising speedy passage.