Wednesday, February 8, 2012

Mimiko Presents N150b Budget, says We Have Redefined Governance

31 January 2012

Ondo State Governor, Dr Olusegun Mimiko has presented to the State’s
House Of Assembly a  N150 billion budget meant to run the affairs of the
state for the 2012 fiscal year.

Tagged “A Caring Heart  Budget  III” the 2012 budget is 7 billion higher than
that of 2011 and it is   geared towards  further consolidation of the present
administration’s three years  land mark achievements.

Presenting  the Caring Heart budget to the state’s Lawmakers  on the floor
of the  State House of Assembly in Akure  yesterday, the governor explained
that   N85.5b of the budget is  meant for  capital expenditure while N64.5
billion is estimated for recurrent expenditure inclusive of N8.2b statutory grant
to Ondo State Oil Producing Development Commission (OSOPADEC).

The governor also informed that the budget would be serviced by expected
N75b revenue from the Federation Account, the retained N12b internally
generated revenue projection and N38b drawdown from the Bond issue as
well as external and internal sources which will commence from this fiscal
year among other sources.

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