ODHA Passes 14 Billion OSOPADEC Budget into Law

ODHA passes 14 b OSOPADEC budget into law

By Awodeyi Elizabeth

Ondo State House of Assembly has passed the State Oil Producing Area Development Commission (OSOPADEC) 2023 budget into law.

While presenting the report of the joint Committees,the Chairman House Committee on Finance and Appropriation, Hon Akinrogunde said that the committees observed that
the projected Revenue of 40% of 130/% Oil derivation was in tandem With the provision for OSOPADEC in the year 2023 Budget of the State.

That the Commission has actually ensured peace and tranquillity in the Niger Delta Region through the engagement of security Companies for Waterways Surveillance which has made the region one of the most peaceful in the Niger Delta region in the Country;

That the engagement of waterways surveillance has no doubt reduced crime rate as some of the restive youth are now gainfully employed by the private security companies hence the need to make additional Budgetary provision for waterways surveillance to sustain the existing peace in the mandate area.

That the template of the Appropriation Bill was in tandem with the National Chapel of Accounts and the Nigerian Governor’s Forum.

That the year 2023 OSOPADEC Budget is almost 70% Capital intensive and will definitely translate to initiation of new projects, completion of some on-going projects and commissioning of some vital projects which will transform the lives of the people in the mandate area.

The Committees also recommended that all on-qoing projects of the Commission should be given accelerated attention so as to get them completed for the use of the people in the mandate areas while the Management team of OSOPADEC should not rely solely on the 40% of 13% Oil derivation fund but be more rigorous and creative in their collaboration with both local and international organizations/donors so as to meet expectations.

The over 14 billion naira presented by the State Government to the house some weeks ago which was committed to the joint Committees of OSOPADEC and finance and appropriation for scrutiny became law after scaling through the third reading at a plenary presided over by the Speaker, Rt Hon Bamidele Oleyelogun

In the budget, 10,634,174,350 billion naira is for Capital Expenditure while 3,679,285,269.57 billion naira is for Recurrent Expenditure.

After the Speaker subjected the report to critical debate at plenary, it was unanimously adopted for passage through a majority voice vote.

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