By Elizabeth Oyeniwa
The Ondo State House of Assembly has passed into law the 2026 Appropriation Bill for the Ondo State Oil Producing Areas Development Commission (OSOPADEC) with a total outlay of N60,993,578,638.00.
The passage followed the adoption of the report of the joint House Committees on OSOPADEC and Finance and Appropriation at a plenary presided over by the Speaker, Rt. Hon. Olamide Oladiji.
The budget law authorizes the issuance of Sixty Billion, Nine Hundred and Ninety-Three Million, Five Hundred and Seventy-Eight Thousand, Six Hundred and Thirty-Eight Naira (N60,993,578,638.00) from the Consolidated Revenue Fund of the State for OSOPADEC’s services for the fiscal year ending December 31, 2026, with Seven Billion, Five Hundred and Fourteen Million, Two Hundred and Fifty-Nine Thousand, Six Hundred and Sixty-Nine Naira (N7,514,259,669.00) earmarked for recurrent expenditure and Fifty-Three Billion, Four Hundred and Seventy-Nine Million, Three Hundred and Eighteen Thousand, Nine Hundred and Sixty-Nine Naira (N53,479,318,969.00) for capital expenditure.
Presenting the joint committee report, Chairman of the Committee on OSOPADEC, Primate Oluwatoyin Allen, said the revenue projection, derived from 40% of the 13% oil derivation fund, is in tandem with the 2026 State Budget. He added that the budget will provide the needed financial framework for the Commission to deliver on its mandate in line with the administration’s OUR EASE Agenda.
The Committees, in their recommendations, charged the Commission to give priority attention to completing all ongoing projects for the benefit of the mandate areas, diversify its funding sources through partnerships with donor agencies and development partners, and intensify staff training to boost institutional capacity.
They also urged OSOPADEC to evolve a transparent and sustainable procurement plan and called on the State Government to ensure timely release of funds to the Commission, considering the difficult terrain of the oil-producing areas.
The report was adopted through a voice vote, after which the Leader of the House, Hon. Olatunji Oshati, moved the motion for third reading and passage of the bill, seconded by Hon. Abiola Oladapo, member representing Ondo West II.
The House also committed the Ondo State Taxes and Levies (Approved List for Collection) Bill, 2026, which seeks to regulate the collection of taxes and levies by the state and local governments, to committee level after scaling second reading.
Speaker Oladiji described the bill as long overdue, noting that it would align the state’s tax system with current best practices. The bill was committed to the House Committee on Finance and Appropriation after a motion by the Leader of the House, Hon. Olatunji Oshati, seconded by Hon. Atinuke Witherspoon, member representing Owo II.
Similarly, the 2026 ODIRS Appropriation (Amendment) Bill scaled second reading and was committed to the same committee.
Earlier, Chairman of the Finance and Appropriation Committee, Hon. Oluwole Ogunmolasuyi, explained that the amendment is intended to strengthen the state’s Internally Generated Revenue and enhance ODIRS’ capacity to meet its targets.
The motion for commitment was moved by Oshati and seconded by Dr. Christopher Ogunlana, member representing Irele, and Hon. Tope Agbulu, member representing Akoko South-West II.
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