The Ondo State Government is poised to invest N76.97 billion in infrastructural development in 2023.
The Commissioner for Economic Planning and Budget, Pastor Emmanuel Igbasan, disclosed this on Monday during a news briefing on the analysis of the state’s 2023 approved budget in Akure.
According to the Commissioner, the budgeted amount accounts for 27.9 per cent of the state’s total budget for 2023.
Ondo’s 2023 budget: Governor Rotimi Akeredolu had earlier signed the 2023 budget of N275.979 billion into law. The 2023 budget is N77 billion more than the 2022 budget, which was N199.28.
Igbasan explained said that capital expenditure would gulp N146.14 billion; recurrent expenditure gets N97.69 billion, while N32.15 billion was earmarked for others.
The commissioner said public finance would gulp N56.59 billion, which amounts to 20.5 per cent of the budget, with Education getting N41.16 billion which is 14.9 per cent.
According to him, Health will receive N23.99 billion which is 8.7 per cent of the budget, while Agriculture will gulp N18. 86 billion which is 6.8 per cent.
Igbasan said that the 2023 budget was based on inputs made during town hall meetings held in all the nine federal constituencies “in consonance with other high-level documents of the state.”
“Mr Governor has assured us that the budget will be logically implemented to further deliver the dividends of democracy and good governance to our people.
“Permit me to also solicit the understanding and support of all Ministries, Department, and Agencies (MDAs) to continue to cooperate and collaborate for the development of a people-centred Ondo State where prosperity, peace and progress shall reign supreme,” he said.
Amotekun gets budget: Igbasan added that the Ondo State Security Network, codenamed Amotekun, would get N2 billion for the provision of hardware, while N500 million would go for the procurement of vehicles.
In addition, the commissioner said that the sum of N700 million would go into the provision of security equipment/infrastructure.