December 30, 2022

Abiodun signs N472bn 2023 budget into law

Abiodun signs N472bn 2023 budget into law

By James Ogunnaike, Abeokuta

Ogun State governor, Prince Dapo Abiodun, on Thursday signed the 2023 budget into law.

Signing the N472,250,694,447.57b Appropriations Bill as passed earlier by the State House of Assembly, Abiodun said he would ensure full implementation of all items on the bill to sustain the momentum of “Building Our Future Together Agenda” of his Administration.

“This budget is reflective of what the people of Ogun State want. I can assure you that on our part, we will ensure implementation of the budget.

“Through this budget, our people will enjoy the full dividends of democracy”, he noted.

He thanked the Speaker and members of the House of Assembly for their diligence which culminated in the passage of the budget before the end of 2022.

Governor Abiodun had presented the N472,250,694,447.58bn Budget of ‘Continued Development and Prosperity’, consisting of N270.41bn for capital projects, while N201.84bn was earmarked for recurrent expenditure, barely a month ago.

The signed budget has adjustments in the recurrent and capital estimates and projected revenue in 31 different areas across 26 agencies.

The passage of the bill entitled: ‘H.B. NO. 084/OG/2022-Year 2023 Appropriation Law-A Bill for a Law for the Appropriation of the sum of Four Hundred and Seventy-Two Billion, Two Hundred and Fifty Million, Six Hundred and Ninety-Four Thousand, Four Hundred and Forty-Seven Naira, Fifty-Seven Kobo Only from the Consolidated Revenue Fund for the Service of Ogun State Government, Nigeria for the Financial Year Ending Thirty-First Day December, Two Thousand and Twenty-Three’, was consequent upon the presentation of the report of House on November 17.

Ogun State House of Assembly passed the Bill as presented by the Committee on Finance and Appropriation led by its Chairman, Olakunle Sobunkanla, who also moved the motion for its adoption, seconded by his deputy, Ganiyu Oyedeji and subsequently supported by the Whole House through a unanimous voice vote.

The Bill was later read and adopted clause-by-clause by the Committee of Supply presided over by the Speaker, Olakunle Oluomo, during the plenary held at the Assembly Complex, Oke-Mosan, Abeokuta.

According to the report, the recurrent expenditures of 22 MDAs were reviewed, while the capital expenses of four others were also adjusted; thus the adjustments led to a reduction in the proposed capital expenditure contained in the budget from the initial N270, 411, 239,527 to N269,605,938,723.32, resulting in N805.3m difference, while the recurrent expenditure was increased from N201.839bn to N202.644bn giving an increment of N805.3m.

Thereafter, the Majority Leader Yusuf Sheriff moved the motion for the third reading of the Bill, seconded by the Deputy Speaker, Hakeem Balogun and supported by the Whole House, while the Clerk/ Head of Legislative Service, Mr. ‘Deji Adeyemo did the third reading of the bill before the members.

Responding on the floor of the House, Oluomo directed that the clean copy of the bill be transmitted to the governor for his assent.

A breakdown of the budget indicated that personnel expenses would gulp N79.47bn, while N21.12bn was meant for social contribution and social benefits, with N39.90bn earmarked for public debt charge and N61.35bn for overhead cost.