The Ondo state government, today, budgeted the sum of 118.9 billion naira for 2016 fiscal year.
Presenting the budget to the state House of Assembly in Akure, Governor Olusegun Mimiko said the budget dropped from the 131 billion naira budgeted for last year.
He attributed this to the current economic realities, stressing that government would place more emphasis on completing ongoing projects.
Of the total budget, recurrent expenditure will gulp 68 billion naira while 50.9 billion naira will go for capital expenditure.
Mimiko said the budget would be funded through aggressive independent revenue drive by all ministries, departments and agencies, blockage of revenue loopholes and allocation of funds to economically viable projects and programmes as well as allocation of funds to government priority areas.
The governor enjoined the citizenry to join hands with him in the quest to move the state forward.
Receiving the budget, the speaker of the house, Princess Jumoke Akindele assured the governor that the house would ensure speedy passage of the appropriation bill into law.
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