Ondo Assembly passes 16.5b OSOPADEC budget into law

Ondo Assembly passes 16.5b OSOPADEC budget into law

Ondo Assembly passes 16.5b OSOPADEC budget into law

By Awodeyi Elizabeth

Ondo State House of Assembly passed the state Oil Producing Area Development Commission (OSOPADEC) budget 2024 into law.

The over 16 billion naira presented by the State Government to the House few 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, Chief Olamide Oladiji.

In the budget of N16,589,793,823.64 ,a sum of ₦3,249,906,749. 54 is for recurrent expenditure, and the sum of ₦13,339,889,74.5 is for capital expenditure for the year 2024.

Earlier while presenting the report of the joint Committees,the Chairman House Committee on OSOPADEC ,Hon Oluwatoyin Allen said that the Committees observed that the projected Revenue of 40% of 13/% Oil derivation was in tandem with the provision for OSOPADEC in the year 2024 Budget of the State.

That the distribution of projects revealed that people of the mandate areas were carried along in the preparation of the fiscal document and critically considered the effects of sea incussion on the people.

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;

The Committees emphasised 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 Chart of Accounts and the Nigerian Governor’s Forum template of budget preparation.

That 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 the expectation of Citizens of the State.

That the commission should, as a matter of urgency carry out a critical assessment of all vehicles with the intent to auction the unserviceable ones rather than wasting limited public fund on refurbishing them.

That the Commission should be more rigorous in training and re- training of its Staff for optimal performance to enhance higher productivity while the procurement plan of the Commission should be more defined and direct:

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

Earlier, the Acting Majority leader who is the Parliamentary Secretary of the House, Hon Moyinolorun Ogunwumiju move a motion for the bill to be move to third reading and approved for passage which was seconded by a Lawmaker representing Akoko South West 2, Hon Tope Agbulu

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