Home » Business & Economy » Ogun Assembly Passes N200.2bn Appropriation Bill Into Law

Ogun Assembly Passes N200.2bn Appropriation Bill Into Law

The Ogun House of Assembly yesterday passed the 2016 Appropriation Bill of N200.2 billion into law.
The bill, passed at the assembly’s plenary, had a recurrent expenditure of N89.9 billion while N99.2 was billion appropriated for capital expenditure.
The bill also had N11 billion for the servicing of pensions and gratuities in 2016
The News Agency of Nigeria (NAN) recalled that Gov. Ibikunle Amosun, had on Nov. 24, presented a fiscal proposal of N200.27 billion to the house.
Mr Adeyinka Mafe, the Majority Leader, moved the motion for the third reading while it was seconded by Mr Victor Fasanya.
The budget was passed after Mr Olusola Bankole, the Chairman, House Committee on Finance and Appropriation, presented the committee’s report to the house.
Bankole said that the house reduced the budget estimate by about N74 million because some MDAs could not convince the committee enough with their huge budget.
He promised that the reduction would not have any negative effect on the MDAs, adding that it was made from the recurrent expenditure.
Bankole said the heads of 112 Ministries, Departments and Agencies (MDAs) appeared before the appropriate sub committees of the house to defend the proposals of their various offices.
He said the Commissioner for Finance and the Accountant-General should ensure that revenues accrued to the state were paid directly into the Consolidated Revenue Fund.
Also the session constituted two committees, including Tenders Board and Inter-Parliamentary Affairs.
The seven-man Tenders Board Committee will be headed by the Deputy Speaker, Mr Olakunle Oluomo while Mr Mafe Adeyinka, the Majority Leader, heads the Inter-Parliamentary Committee.
The News Agency of Nigeria (NAN) reported that the house, during the plenary, approved the governor’s request to appoint five additional Special Advisers. (NAN)

%d bloggers like this: