
The Ondo State House of Assembly has given the green light to a N96 billion supplementary budget for 2024.
With this approval, the state’s total budget has been increased to N492 billion.
This increase was prompted by Governor Lucky Aiyedatiwa’s request to raise the initial N395 billion budget to N487 billion.
The supplementary budget aims to address the economic impacts of petrol subsidy removal and implement the new N73,000 minimum wage for the state’s workforce.
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Additionally, the House increased the governor’s proposal by N5 billion to accommodate extra developmental needs.
According to Oluwole Ogunmolasuyi, House Majority Leader and Committee Chairman, some ministries, departments, and agencies had exhausted their allocated funds due to inflationary pressures on the original 2024 budget.
The revised budget ensures rapid development and enables the government to meet its target goals.
Also, the passage of the N96 billion supplementary budget provides the state government with financial flexibility to sustain operations and foster growth across various sectors in Ondo State.
This move demonstrates the government’s commitment to mitigating economic challenges and ensuring continued progress.