Ogun Assembly Passes 2021 Appropriation Bill Of N338.6Bn - EDU-BIZNEWS


Tuesday, December 29, 2020

Ogun Assembly Passes 2021 Appropriation Bill Of N338.6Bn

Ogun State House of Assembly has passed the State 2021 Appropriagion bill of N338.6bllion with a slight adjustment in the recurrent and capital expenditure as well as projected revenue for coming fiscal year

Edu-Biznews recalled that Governor Dapo Abiodun last December 2nd, presented the budget proposal for consideration and approval of the lawmakers.

The house passing the budget on Tuesday during its plenary in Abeokuta, increased  the recurrent estimate from its initial estimate of N141.7bn to N146.5billion  while capital expenditure was cut by N4.779billion from its original N176.677billion to N171.898billion. 

Also the  new revenue projection is now put at N121.808bn as against the initial N119.180bn, giving a difference of over N2.626bn, just as capital receipt was also slashed from the initial N142.154bn to N139.527bn resulting in N2.626bn decrease.  

Following the adjustment of the Appropriation Bill, the new amount of N146.529bn now earmarked for recurrent expenditure, N20.182bn for Consolidated Revenue Fund Charges (CRFC) while N171.898bn was allocated for capital expenditure in the next financial year.

The adjustments affected the recurrent and capital expenditures estimates and revenue projection of about 74 agencies including their capital receipt.

Also the recurrent expenditures of 29 agencies were affected, just as that of 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. 

A sum of N20.18billion was voted for payment of gratuities and pensions in the 2021 fiscal year.

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; 

 The bill was then  read and adopted clause-by-clause before the members by the Speaker, Rt. Hon. Olakunle Oluomo who later  called for third reading of the third reading of the bill    

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.

Speaker Oluomo directed that the clean copy of the bill be sent to  Governor 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.

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