The Ondo State House of Assembly has passed a supplementary budget of N96 billion for the 2024 fiscal year, increasing the state’s total budget from N395 billion to N492 billion.
The supplementary appropriation bill, initially submitted by Governor Lucky Aiyedatiwa, sought an increase to address the economic challenges arising from the removal of the petrol subsidy and to fund the implementation of the newly announced N73,000 minimum wage for state workers.
While the governor had proposed raising the budget to N487 billion, the Assembly, exercising its discretion, approved a higher figure, bringing the total supplementary budget to N492 billion.
Presenting the report of the House Committee on Finance and Appropriation, the Majority Leader and committee chairman, Mr. Oluwole Ogunmolasuyi (Owo 1/APC), explained that the additional funds were necessary to meet the government’s development goals. He noted that inflationary pressures had exhausted allocations to several ministries, departments, and agencies, necessitating further financial provisions.
Ogunmolasuyi highlighted that the revised budget would ensure continued progress in the state’s development, saying, “This supplementary budget gives a clear expression of the government’s commitment to rapid development in the face of economic challenges.”
