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Akeredolu signs 2018 budget

By Dayo Johnson

AKURE—GOVERNOR Rotimi Akeredolu of Ondo State yesterday signed into law the 2018 Appropriation Bill of N181.4 billion with a stern warning of zero tolerance for corrupt practices by both civil servants and political appointees across the state.

Ondo State governor, Rotimi Akeredolu

Aside from the Appropriation Bill, Akeredolu equally signed into law the Contributory Health Insurance Scheme Bill and the State Social Protection Law.

He lamented that N78. 5 billion representing 43.3 percent of the total budget would be expended on recurrent expenditure while N80.9 billion representing 46 percent was set for capital expenditure.

He said: “Debt service would gulp N13.600 billion or 7.5 percent statutory transfers to OSOPADEC and local councils were allocated N8.307 billion or 4.6 percent.

“We intend to concentrate more on capital expenditure to abridge the huge infrastructural deficit in our state.”

Speaking during the ceremony in Akure, the governor said his administration is “determined to improve our fiscal circumstances, significantly, through an aggressive regime of revenue mobilization and generation.”


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