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
Oil Producing Development Commission (OSOPADEC). Ondo State
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.