2023: Akeredolu Presents 272 Billion Naira Budget

Ondo State Governor, Oluwarotimi Akeredolu has presented an estimated budget of N 272.736 billion naira to the State House of Assembly for the 2023 fiscal year.

The budget tagged ‘budget of shared prosperity according to Governor Akeredolu is higher than the 2022 budget by over one hundred and ninety-nine billion naira.

It has a recurrent expenditure of a little above N129 billion naira representing 47.38% of the budget, capital expenditure of 143 billion naira representing 53% of the budget and is aimed at establishing the necessary framework for a robust mining and solid minerals sector, improving the road network in urban and rural areas, enhances security as well as improve the quantity, quality and access to safe water for domestic, commercial and industrial uses.

The budget, according to Governor Akeredolu has an estimated revenue of 272.736 billion naira which would be funded majorly from the statutory allocation, vat, grants, and IGR among others making it a balanced budget for the 2023 fiscal year.

Governor Akeredolu disclosed that the 2023 budget objectives and targets were geared towards peace and security, improving quality education at all levels, and democratising access to health care by sustained improvement in the efficiency of the healthcare delivery system and infrastructure among others for the benefit of the state.

Similarly, Governor. Akeredolu said the budget would adhere to policies and ensure fiscal discipline while at the same time exploiting the full potential of the economy, ensuring that products from agricultural and industrial activities have access to markets locally and Internationally.