Ogun Assembly Gives Green Light to ₦703bn 2024 Budget

The Ogun State House of Assembly has granted approval to the 2024 Appropriation Bill totaling ₦703bn.

Governor Dapo Abiodun presented the budget proposal on November 30, urging a swift passage. Various government ministries and agencies defended their allocations before assembly committees.

During Thursday’s session, the assembly passed the bill, reviewing both capital and recurrent expenditures and projected revenue for 18 MDAs.

The bill, titled ‘No. 011/OG/2023 – A Bill for a Law to authorize the issue and Appropriation of the sum of N
₦703bn from the Consolidated Revenue Fund for the Services of Ogun State Government of Nigeria for the Financial Year Ending Thirty-First day of December Two Thousand and Twenty-Four,’ was adopted clause-by-clause.

According to the committee report, there were upward revisions in recurrent expenditure for ministries like Industry, Trade and Investments; Agriculture, Forestry, Transportation, Community Development, and Cooperatives, among others.

This led to a reduction in the total revenue target, from ₦210.248bn to ₦198.748bn, offset by an increase in revenue from excess crude, from ₦3.845bn to ₦13.845bn.

The capital receipt was adjusted from ₦128.372bn to ₦136.872bn.

The clean copy of the bill will now be sent to the governor for assent, with the Speaker directing swift action to ensure citizens benefit from democratic dividends at the start of the next fiscal year.