Tope Fayehun, Akure
The Ondo State governor, Arakunrin Oluwarotimi Akeredolu on Tuesday signed the 2017 Appropriation Bill into law.
This came after the state House of Assembly had passed the budget of N170,846,580 billion into law on Monday, following its increment from the initial N169,720,580 earlier presented to the lawmakers by the governor two weeks ago.
With the increment, a sum of N95.159 billion was earmark for recurrent expenditure while a sum of N59.187 billion will be spent on a capital expenditure .
At the programme held at the Cocoa Conference Hall of the governor’s office, Alagbaka, Akure, Akeredolu said the huge deficits which exist in various sectors of the state socio-economic life need be tackled frontally.
According to the governor, “These fiscal estimates have been scrutinized, meticulously, to capture the aspirations of this administration on real development.”
Akeredolu informed that his administration has tried to reduce the embarrassing imbalance between recurrent and capital expenditure in this year’s budget.
While saying that his administration is not unmindful of the dire challenges faced by it, with regards to Budget implementation, mainly due to paucity of funds, the governor ,however said he is determined to improve the state fiscal circumstances, substantially, through revenue generation.
His words: “We shall devise means of plugging loopholes exploited by unscrupulous elements to deny the state of deserved revenue. We shall expand our tax base, aggressively.
“This administration requires the cooperation of all concerned in ensuring that all revenues accruable to the state are realized with minimal stress.
I, therefore, solicit the support and understanding of the good people of Ondo State in the discharge of this onerous duty. I crave the understanding of all stakeholders, especially the civil servants on whom all depend for the implementation of government policies.
“Our people expect no less from their representatives. They wait, anxiously, for any intervention which serves as a realistic palliative to the excruciating pains experienced at present.
“It is important to state that the government has initiated special intervention strategies on agriculture, job creation, infrastructure, education, technology and rural development.
“This government shall take steps, to depart from the practice wherein a disproportionate percentage of budgetary allocation is expended on recurrent expenditure. Our citizens, who are not employed in the formal sector, must feel the impact of governance positively.”