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December 28, 2023
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OGHA passes N703.02Bn 2024 budget

The Ogun State House of Assembly has on Thursday passed N703,028,013,431.64 as the Year 2024 Appropriation bill.

The bills which was earlier presented to the house  for consideration by the State Governor, Dapo Abiodun with a review in the capital and recurrent expenditures also projected revenue of 18 Ministries, Departments and Agencies (MDAs).

The Bill was titled: “No. 011/OG/2023- “A Bill for a Law to authorise the issue and Appropriation of the sum of Seven Hundred and Three Billion, Twenty-Eight Million, Thirteen Thousand, Four Hundred and Thirty-One Naira, Sixty-Four Kobo Only from the Consolidated Revenue Fund for  the Services of Ogun State Government of Nigeria for the Financial Year Ending Thirty-First

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day of December Two Thousand and Twenty-Four”.

The passage of the Appropriation Bill followed the presentation of the report of the House Committee on Finance and Appropriation by its Chairman, Hon. Musefiu Lamidi, who subsequently moved the motion for its adoption, seconded by Hon. Damilola Soneye and was supported by the Whole House through a voice vote.

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Consequently, the bill was later read and adopted clause-by-clause by the Committee of Supply led by the Speaker, Rt. Hon. Olakunle Oluomo during today’s  plenary held at the Assembly Complex, Oke-Mosan, Abeokuta.

According to the report, the first schedule saw to the upward review of the recurrent expenditure in the budget proposals of the State Ministries of Industry, Trade and Investments; Agriculture, Forestry, Transportation, Community Development and Cooperatives, Rural Development, Culture and Tourism, Education, Science and Technology, likewise TRACE and State Waste Management Authority.

Others that had their recurrent expenditures jacked up are Bureau of Lands and Survey, State Planning and Development Permit Authority amongst others. 

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Therefore, the change led to a reduction in total revenue target of government leading to a downward review from N210.248bn to N198.748bn giving a reduction of N11.5bn, while revenue from the excess crude was jacked up from N3.845bn to N13.845bn resulting in an increment of N10bn, just as capital receipt was moved from N128.372bn to N136.872bn giving an upward review of N8.5bn.

The report also indicated an increment in the proposed expenditures under the second schedule for the Office of Auditors General (State and Local) and Sustainable Development Goals.

The Majority Leader, Yusuf Sheriff moved the motion for the third reading of the bill, seconded by the Minority Leader, Lukman Adeleye and supported by the Whole House through a voice vote, after which the Clerk/ Head of Legislative Service, Mr. Deji Adeyemo took the third reading of the bill before the lawmakers.

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Responding, the Speaker, Rt. Hon. Olakunle Oluomo directed that the clean copy of the Appropriation bill be transmitted to the State Governor, Prince Dapo Abiodun for his assent so that the people of the State would begin to enjoy more democratic dividends from the first day of the next fiscal year. 

It would be recalled that Governor Dapo Abiodun presented a total of N703,028,013,431.64 as the Year 2024 Appropriation Bill to the State legislature, consisting of N415.656bn for capital expenditure, while N287.37bn was to cater for recurrent expenditure.

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