Home News Ogun Assembly Passes 2020 Appropriation Bill, Increases Capital Expenditure to N2.1bn

Ogun Assembly Passes 2020 Appropriation Bill, Increases Capital Expenditure to N2.1bn

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By Kolawole Olayinka, Abeokuta

Barely 24 days after the Ogun State Governor, Prince Dapo Abiodun presented the 2020 budget proposal of N449.97billion to the State House of Assembly, the Assembly has passed the Appropriation Bill, retaining the budget size with an adjustment of capital expenditure to N2.1 billion.

Therefore, the realignment moved the capital estimate from N269 billion to N271 billion.

The passage of the bill titled: HB. No. 032/OG/2019- Year 2020 Appropriation Law, at the plenary presided over by Speaker Olakunle Oluomo, at the Assembly Complex, Oke-Mosan, Abeokuta, followed the presentation of the report of the House Committee on Finance and Appropriation led by Hon. Olakunle Sobukanla, who thereafter moved the motion for its adoption, seconded by Sylvester Abiodun and unanimously supported by all the lawmakers through a voice vote.

According to the report, which saw to the adjustment in the recurrent expenses of six agencies, capital estimates of 19 others and the revenue targets of seven agencies; the recurrent expenditure was slashed from N154.896 billion to N152.796 billion, giving a reduction of N2.1 billion in the recurrent expenditure, while the capital expenditure was moved from N269.132 billion to N271.232 billion giving an increment of N2.1 billion.

The bill was thereafter 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 and the Acting Clerk of the Assembly, Deji Adeyemo did the third reading of the bill.

Passing the bill into law, Oluomo, who commended his colleague lawmakers and staff of the Assembly for their dedication and support, which led to the timely passage of the bill, saying the prompt passage of the Appropriation Bill was a Christmas cum new year gift for the people of the State and therefore directed that the clean copy of the bill be transmitted to the Governor for his assent.

It would be recalled that Governor Abiodun had on December 3, 2019 presented the budget proposal of N449.974 billion for the next fiscal year before the members of the State House of Assembly.

The budget christened “Budget to Build Our Future Together” has N269.132 billion representing (60.31 per cent) for capital projects, with N180.842 billion (39.69 per cent) set aside for recurrent expenditure, while salaries and allowances were put at N83.238billion, just as pension and gratuities would take N25.94 billion, representing 18 per cent of total expenditure with the balance of N71.659 billion resulting in 16 per cent of the total budget earmarked for overhead cost.

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.

 

 

 

 

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