Ondo Assembly passes 2018 budget

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The Ondo State House of Assembly has passed the 2018 budget into law.

The budget totaling N181.42 billion is an increase to the N171.27 billion presented by Governor Rotimi Akeredolu December 22 last year.

The house passed the budget unanimously after Chairman, House Committee on Finance and Appropriation presented it at plenary today (Friday).

According to Olajide, the roll-over of N7 billion from 2017 for SUBEB funds and N2 billion for the conduct of local government election is the reason behind the N10 billion increase by the Assembly.

The budget has a recurrent expenditure sum of N78,587,675,486 and capital expenditure sum of N80,928,985,234.

An additional N13,599,878,084 was budgeted for servicing of debts, while N8,308,001,478.30 is for statutory transfer.

The House also proceeded on six weeks recess.


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