Ogun State House of Assembly has passed the sum of N343, 983, 962, 106. 00 as the 2018 Appropriation Bill after its reduction of N1, 434, 500, 000: 00 from the initial N345, 418, 462, 106: 00 earlier presented to it over a month ago by the State Governor, Senator Ibikunle Amosun.
The cut in the initial budget emanated from adjustments in recurrent expenditure of nine agencies, just as four other agencies also had their capital expenditures slashed, while revenue targets for nine agencies including proposed external loans were also re-evaluated.
The House Committee on Finance and Appropriation led by its Chairman, Hon. Akanbi Bankole had earlier presented the report after which Bankole moved the motion for its adoption seconded by Hon. Israel Jolaoso and supported by the whole House through a voice vote.
According to the report, capital expenditure was slashed from N223.721B to N222.881B resulting in a difference of N840m, while the total revenue target was reduced from over N345.418b to over N343.983b giving a reduction of over N1.434b.
The bill was thereafter read clause- by- clause before members by the Speaker, Rt. Hon. Suraju Ishola Adekunbi, as the Minority Leader, Olawale Alausa, moved the motion for the third reading which was seconded by Hon. Jimi Otukoya while the Clerk of the House, Engr. Lanre Bisiriyu took the third reading of the bill.
Passing the bill, Speaker Adekunbi commended his colleague- lawmakers and the entire members of staff for their support and dedication to duty which led to the speedy passage of the Appropriation Bill and later directed that the clean copy of the bill be sent to the Governor for assent.
It would be recalled that Governor Ibikunle Amosun on November 21, 2017, presented the budget size of N345, 418, 462, 106: 00 as proposal for 2018 Budget, with the tag: “Budget of Accelerated Development,” out of which N223.721B representing 64.7 percent was earmarked for capital projects. The remaining N121.698b which represented 35.2 percent was set aside for recurrent expenditure with the target revenue which consisted of the Internally Generated Revenue and proceed from the Federation Account was put at N197.258B; representing 57.10percent of total funding.
In another development, the Speaker, who was awarded by the management of the Amebo Hotnews Magazine, led by its Publisher, Adedapo David, as the “Overall Best Legislator of the year 2017”, for his outstanding performance and ability to sustained the peace enjoyed in the State’s House of Assembly, said that it was made possible by the cooperation of his constituents and fellow lawmakers.
Adekunbi said that the peaceful atmosphere enjoyed across the State has also reflected in the legislature and other Arms of Government, declaring that the award was dedicated to his fellow legislators for their support.