Governor of Ondo State, Oluwarotimi Akeredolu on Tuesday presented a 2022 budget proposal of N191.6 billion tagged “Budget of Economic Re-Engineering” to the House of Assembly.
The 2022 budget was presented to the lawmakers for scrutiny by the Commissioner for Finance, Mr Wale Akinterinwa who represented the governor.
The Governor said “the 2022 Budget projections represent an increase of 9.59 percent over the 2021 budget, hence, the expansionary measures being pursued in the 2022 is carefully weighed option to weigh-in into the resultant fiscal resurgence envisage in 2022.
The Governor noted that the 2022, government would leverage on resources to source N44.000 billion from the financial market in order to accelerate the pace of development and job creation in the state.
In the budget, a total sum of N79.621 billion has been budgeted for capital expenditure, N102.106 billion for recurrent expenditure, representing an increase of 7.15 percent over the 2021 recurrent expenditure budget.
Responding, the Speaker, Mr Bamidele Oleyelogun commended Governor Akeredolu for various ongoing developmental projects across the state and handed over the budget proposal to the House committee on Finance and Appropriation.
The Chairman, House committee on Finance and Appropriation, Sunday Olajide who appreciated the timely presentation of the budget proposal promised speedy attention to its passage.