ODHA Conducts 2023 OSOPADEC Budget Defence By Awodeyi Elizabeth The ondo State House of Assembly has conducted the year 2023 Ondo State Oil Pro
ODHA Conducts 2023 OSOPADEC Budget Defence
By Awodeyi Elizabeth
The ondo State House of Assembly has conducted the year 2023 Ondo State Oil Producing Area Development Commission (OSOPADEC) budget defense exercise.
The Management of OSOPADEC and team of the State Ministry of Economic Planning and Budget were fully on ground before the joint House Committees on OSOPADEC and Finance and Appropriation to defend the over 14 billion naira budget for the next fiscal year.
In his welcome address, the Chairman House Committee on OSOPADEC, Hon Prince Abayomi Akinruntan believed that the budget if well implemented will further cushion the yawning of the people of the mandate areas.
Akinruntan directed the OSOPADEC and the Ministry of Economic Planning and Budget teams to submit necessary documents to the Committees to fastrack the budget passage as the 9th Assembly is winding down.
In his opening remarks, the Chairman House Committee on Finance and Appropriation, Hon Akintomide Akinrogunde noted that the exercise is part of the Committees fundamental task to properly appropriate budget for OSOPADEC that will run for the next fiscal year.
He believed that the stakeholders input were fully incorporated in the 2023 budget saying that it will be more impactful if fully implemented.
While commenting, the OSOPADEC Chairman Mr Sam Erejuwa affirmed that the budget which is termed ” budget of renewed hope” would give priority to addressing environmental challenges mandate areas are facing.
He explained that 70% of the budget would be used to fund capital projects.
Also, the State Commissioner for Economic Planning and Budget, Emmanuel Igbasan who was represented by a Director in the Ministry, Stephen Aworere informed that the budget before the House is in full compliance with the national guidelines and aligned with the global best practice.
It would be recalled that the House had last week committed the budget to the Committees for proper scrutiny where the Speaker, Rt Hon Bamidele Oleyelogun directed them to submit to the House as soon as possible.
In the budget, over 10 billion naira is for Capita expenditure while 4 billion naira is for recurrent expenditure.