Abiodun signs N703bn 2024 budget into law.

Abiodun signs N703bn 2024 budget into law.

The Governor of Ogun State, Dapo Abiodun, on Friday, signed the 2024 Appropriation Bill of N703.028bn into law.

The House of Assembly had on Thursday passed the budget reviewing the capital and recurrent expenditures as well as the projected revenue of 18 Ministries, Departments and Agencies.

The review led to a reduction in the total revenue target of the government from N210.248bn to N198.748bn, giving a reduction of N11.5bn.

Revenue from the excess crude was jacked up from N3.845bn to N13.845bn, resulting in an increment of N10bn, and the capital receipt was moved from N128.372bn to N136.872bn. This gave an upward review of N8.5bn.

Speaking after signing the budget into law at the Governor’s Office, Oke Mosan, Abeokuta, Abiodun, who described the budget as the highest in the history of the state promised that it would be fully implemented for the development of the state.

The budget tagged “Budget of Sustained Growth and Development” was presented to the governor for assent by the Speaker of the State House of Assembly, Rt. Hon. Olakunle Oluomo, with other principal officers of the assembly.

Abiodun assured that the budget would be used to further drive sustainable growth and improve the standard of living of the people of the state.

He promised that the budget would stimulate economic activities, create job opportunities, and enhance the overall socio-economic landscape of the state by attracting more investment as well as assist his government to deliver on its promises and fulfill its obligation to the people.

The governor thanked Oluomo and members of the assembly for their thorough review of the budget and preparation of the final budget, stressing that the Assembly had demonstrated to be a reliable partner in the development agenda of the state.