Ondo State Governor, Mr Oluwarotimi Akeredolu, has presented a 2022 budget proposal of N191.6 billion tagged “Budget of Economic Re-Engineering” to the House of Assembly.


Finance commissioner, Mr Wale Akinterinwa and the speaker, Bamidele Oleyelogun

The 2022 budget was presented to the lawmakers for scrutiny by the Commissioner for Finance, Mr Wale Akinterinwa who represented the governor.

Governor Akeredolu said “the 2022 Budget projections represented an increase of 9.59 percent over the 2021 budget, hence, the expansionary measures being pursued in the 2022 Appropriation Bill.

He noted that in 2022, government would leverage on available resources to source for N44.000 billion from the financial market in order to accelerate the pace of development and job creation in the state.

In the breakdown of the proposed budget, a total sum of N79.621 billion was budgeted for capital expenditure, N102.106 billion for recurrent expenditure, representing an increase of 7.15 percent over the 2021 recurrent expenditure.

Responding, the Speaker, Mr Bamidele Oleyelogun commended Governor Akeredolu for various ongoing development projects across the state and handed over the budget proposal to the House committee on Finance and Appropriation.

The Chairman, House committee on Finance and Appropriation, Mr Sunday Olajide who appreciated the timely presentation of the budget proposal promised thorough scrutiny and speedy passage of the bill.



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