Ogun Assembly passes N338.6bn 2021 budget

The Ogun House of Assembly, on Tuesday, passed the 2021 appropriation bill of N338.6 billion with slight adjustments in recurrent and capital expenditure.

Olakunle Sobukanla, chairman of the house committee on finance and appropriation, during plenary in Abeokuta, presented the report of his committee on the budget before the whole house.

176.6 billion to N171.8 billion.

There were also adjustments in recurrent expenditure of 29 agencies and capital expenditure of 27 others.

Sobukanla said the revenue targets of 18 ministries/agencies were modified, while internal loan reduced from N98.3 billion to N95.7 billion.

READ ALSO: Recapitalization as a catalyst for deepening insurance penetration in Nigeria

The lawmaker said the new revenue projection had been put at N121.8 billion as against the initial N119.1 billion.

He said the capital receipt was also slashed from the initial N142.1 billion to N139.5 billion, a N2.6 billion decrease.

Sobukanla, thereafter, moved the motion for the adoption of the report, which was seconded by the minority leader, Ganiyu Oyedeji, and unanimously supported by all the lawmakers through a voice vote.

The bill was read clause-by-clause before the lawmakers by the speaker, Olakunle Oluomo.

Yusuf Sherif, the majority leader, moved the motion for the third reading, seconded by Oyedeji, while the Clerk, Deji Adeyemo, read the bill for the third time.

Following the passage, Oluomo directed that the clean copy of the bill be sent to the governor for his assent.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.