Ogun Assembly Worries Over Non- Signing Of Audit Law, Says Govt.Losing $2m Annually - EDU-BIZNEWS


Tuesday, August 31, 2021

Ogun Assembly Worries Over Non- Signing Of Audit Law, Says Govt.Losing $2m Annually

Ogun State House of Assembly has expressed concern over failure of Governor Dapo Abiodun to give his assent to the state's Audit Law passed by the house, to shore up revenue generation profile of government 

Speaker of the house, Right Honourable Olakunle Oluomo and  Chairman of the House Public Account Committee, Hon.Musefiu Lamidi expressed the worry in their  seperate remarks during the defence of the State's Medium Term Expenditure Framework (MTEF2022-2024)by the Budget and Planning Commissioner, Olaolu Olabimtan before the Assembly on Tuesday in Abeokuta

The State according to Oluomo, is losing $2 million annually due to non-implementation  of the Audit Law by government 

The Speaker also stressed the need for the State Government to begin immediate Implementation of the financial autonomy for both legislative and judiciary as independent arms of government as provided in the amended provision of the 1999 constitution of Nigeria 

He insisted that the allocation for the two arms of government should come directly from the consolidated revenue charges of government in its yearly budgetary provision 

Oluomo frowned at the current situation where the two arms were allocated just less than two percent of this year's budget size of  N338.6bilion, saying the executive arm should stop treating the other arms as extension of its departments in terms of allocation of financial resources

He however pledged the House's readiness to pass the Medium Term Expenditure Framework, to provide direction for the preparation of the 2022 budget proposal

Responding, the Budget and Planning Commissioner  promised to convey the lawmakers' message to the governor on the non-signing of the Audit Law transmited to him 

Olabimtan quickly corrected the impression that the State Government had issued  bond to raise fund from the Capital market, explaining that government was fine-tuning the process for the issuance of the financial instrument

Edu-Biznews recalled that the house on June 2020, passed the law for the establishment of the State Audit Service Commission and Office of Auditor General still awaiting the assent of the governor   

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