Estimated reading time: 10 minute(s)
Barely a month after the presentation of the State Budget by the State Governor, Prince Dapo Abiodun for the consideration by the legislative arm, the Ogun State House of Assembly today passed the 2021 Appropriation Bill of N338,610,943,021.86 with slight adjustments in the recurrent and capital expenditures estimates and revenue projection of about 74 agencies including the capital receipt.
The bill was passed with adjustments in the recurrent expenditures of 29 agencies, just as the capital expenditures of 27 other agencies were equally affected, while the revenue targets of 18 Ministries/Agencies were modified; with internal loan reduced from N98.33bn to N95.7bn resulting in N2.62bn reduction.
The adjustment also affected the total recurrent estimate which moved from N141.7 billion to N146.5 billion giving over N4.779 billion difference, while capital expenditure was reduced from N176.677 billion to N171.898 billion, giving a total reduction of over N4.779 billion.
On revenue side, the new revenue projection now put at N121.808 billion as against the initial N119.180 billion, giving a difference of over N2.626 billion, just as capital receipt was also slashed from the initial N142.154 billion to N139.527 billion resulting in N2.626 billion decrease.
The unanimous passage of the Bill followed the presentation of the report of the House Committee on Finance and Appropriation chaired by Hon. Olakunle Sobunkanla, who later moved the motion for its adoption, seconded by the Minority Leader, Ganiyu Oyedeji and supported by the whole House through a voice vote; while the bill was thereafter read and adopted clause-by-clause before the members by the Speaker, Rt. Hon. Olakunle Oluomo, during the plenary held at the Assembly Complex, Oke-Mosan, Abeokuta.
Consequently, the new figure contained in the appropriation bill earmarked N146.529bn for recurrent, N20.182bn for Consolidated Revenue Fund Charges (CRFC) while N171.898bn was allocated for capital expenditure in the next financial year.
The motion for the third reading of the bill was later moved by Majority Leader, Hon. Yusuf Sheriff, seconded by Hon. Oyedeji and supported by the whole House, while the Clerk/ Head of Legislative Services, Mr. Deji Adeyemo did the third reading of the bill before the members.
The new title of the bill now reads: H.B. 59/OG/2020- Year 2021 Appropriation Bill- “A Bill for a Law for the Appropriation of the sum of One Hundred and Forty-One Billion, Seven Hundred and Fifty Million, Four Hundred and Thirteen Thousand and Forty-One Naira, Sixty-Seven Kobo Only for Recurrent Expenditure, Twenty Billion, One Hundred and Eighty-Two Million, Nine Hundred and Ten Thousand, Five Hundred and Ninety-Three Naira, Four Kobo Only for Servicing of Pensions and Gratuities and One Hundred and Seventy-Six Billion, Six Hundred and Seventy-Seven Million, Six Hundred and Nineteen Thousand, Three Hundred and Eighty-Seven Naira, Fifteen Kobo Only for Capital Expenditure for Services of Ogun State Government of Nigeria, for the Financial year ending thirty – first day of December, Two Thousand and Twenty-One”.
In his response,the Speaker,Olakunle Oluomo directed that the clean copy of the bill be sent to the State Governor, Prince Dapo Abiodun for his assent, while using the opportunity to commend his colleague lawmakers, management and staff of the Assembly for their unrelenting efforts towards promoting good governance through the passage of people-oriented legislations.