Bamigbola Gbolagunte, Akure
Ondo State governor, Mr Rotimi Akeredolu, has presented a budget estimate of N190.2b to the state House of Assembly for approval.
The governor who reeled out the achievements of his administration in 2018, assured that the budget would be fully implemented, adding that the general welfare of the people of the state was put into consideration while preparing the budget.
In the budget christened “Budget of Advancement,” N87billion was estimated for capital expenditure, while N82billion was for recurrent expenditure and debt repayment was expected to gulp N10.4billion.
Giving a breakdown of the budget, Akeredolu disclosed that the economic sector would take N92.46billion, with the social sector getting N58.41billion while the regional sector takes N7.1billion.
Also, administration is expected to take N28.83 from the budget, while law and justice will spend N3.25billion from the budget.
The governor declared that his administration would place great emphasis on capital projects in the next fiscal year for the good of the people of the state and to attract investors, stressing that the state had a lot of values that could attract investors if properly developed.
The governor, who stated that the state was blessed with abundant mineral resources, said that bitumen exploitation would commence in the state from 2019, stressing that, the exploitation would provide more jobs for the teaming youths of the state.
Also, he said that the state would make use of the state’s coast line which is believed to be the longest in the country to attract investors to the state.
The Speaker of the state House of Assembly, Hon. Bamidele Oloyelogun, lauded the efforts of Governor Akeredolu at developing the state, pointing out that since his assumption of office, the state had witnessed unprecedented development.
He assured that the House would give urgent attention to the budget estimate and do the needful in no distant time.
Oloyelogun said the cordial and harmonious relationship existing between the executive and legislative arms of government was as a
result of the efforts of Governor Akeredolu and his respect for the rule of law.