The governor of Ondo state, Olusegun Mimiko today announced the sum the of 118.9 billion for fiscal budget of the year, Daily post reports.
The state appropriation bill is one of the most anticipated in the country. It will be recalled that Ondo State Board of Internal Revenue Service, revealed that the state generated not less than N10 billion between January and November 2015 .
Speaking at the state House of Assembly in Akure, the Governor said he attributed the budget to the current economic realities, stressing that government would place more emphasis on completing ongoing projects.
He disclosed further that the budget would be funded through aggressive independent revenue drive by all ministries, departments and agencies, blockage of revenue loopholes and allocation of funds to economically viable projects and programmes as well as allocation of funds to government priority areas.
With the growing slump in oil prices and forecast of hardship, It is very hard to see a silver limning, but time will tell how well the 12 months will be for Ondo State when the appropriation bill is passed.