Gov.Oluwarotimi Akeredolu of Ondo State on Thursday presented a fiscal proposal of N177 billion for 2020 to the Ondo State House of Assembly.
The News Agency of Nigeria(NAN) reports that the 2020 budget was tagged “Budget of Growth.”
Akeredolu, who presented the budget to the Assembly through the Commissioner for Economic Planning and Budget, Emmanuel Igbasan, said it reflected the current administration’s commitment to work assiduously to deliver on its electoral promises to the people of the state.
He noted that the proposed budget was reduced by 138billion, compared with 2019 which was N190billion.
“A total sum of N82 billion has been budgeted for recurrent expenditure and a sum of N74billion for capital expenditure.
“Over N10billion was also voted for debt services and N11billion for statutory transfer, ” he said.
The governor said that his administration had taken significant steps to attract investors to the state and to highlight areas where the state has comparative advantages for possible intervention.
According to him, the 2020 budget was the third major proposal to be prepared by his administration, adding that it would lay emphasis on consolidation and building on the feats achieved in 2019.
The governor said that the 2020 budget would focus mainly on human capital development, quality health care delivery, most especially to the people at the grassroots, and agriculture.
He lauded the lawmakers for their support and the mutual understanding between the legislature and the executive in the last three years of his administration.
The Speaker, Bamidele Oleyelogun, commended the efforts of the governor in reviving and evolving a brand new state for all citizens.
Oleyelogun appealed to the governor to assist the Assembly in either building a new assembly complex or renovating the existing chamber as many members could not sit in their offices due to the dilapidated condition of the complex.