Ogun State House of Assembly on Tuesday passed the 2021 Appropriation Bill of N338,610,943,021.86, with slight adjustments in the recurrent and capital expenditure estimates, as well as revenue projection.
The adjustments were spread across 74 agencies, including the capital receipt.
The Bill was presented to the lawmakers by Governor Dapo Abiodun for their consideration about a month ago.
The passage of the Bill followed the presentation of the report of the House Committee on Finance and Appropriation chaired by Olakunle Sobunkanla, who also moved the motion for its adoption, seconded by the Minority Leader, Ganiyu Oyedeji and supported by the House through a voice vote.
The Bill was thereafter read and adopted clause-by-clause before the members by Speaker Kunle Oluomo, during plenary.
It was passed with adjustments in the recurrent expenditures of 29 agencies, just as the capital expenditures of 27 other agencies were equally affected.
The revenue targets of 18 Ministries/Agencies were modified; with internal loan reduced from N98.33billion to N95.7billion, resulting in N2.62billion reduction.
The adjustment equally affected the total recurrent estimate, which moved from N141.7billion to N146.5billion, giving rise to N4.779billion difference, while capital expenditure was reduced from N176.677billion to N171.898billion, resulting in a total reduction of over N4.779billion.
On revenue side, the new revenue projection now puts at N121.808billion as against the initial N119.180billion, giving a difference of over N2.626billion, just as capital receipt was also slashed from the initial N142.154billion to N139.527billion, resulting in N2.626billion decrease.
Consequently, the new figure contained in the Appropriation Bill earmarked N146.529billion for recurrent, N20.182billion for Consolidated Revenue Fund Charges (CRFC), while N171.898biliom was allocated for capital expenditure in the next financial year.
The motion for the third reading of the Bill was later moved by Majority Leader Yusuf Sheriff, seconded by Hon. Oyedeji and supported by the whole House, while the Clerk/ Head of Legislative Services, Mr. Deji Adeyemo, did the third reading of the Bill before the members.
Speaker Oluomo directed that a clean copy of the Bill be sent to Governor Abiodun for his assent.
