The Ondo state government, today, budgeted the sum of 118.9 billion naira for 2016 fiscal year.
While presenting the budget to the state House of Assembly in Akure, Governor Olusegun Mimiko said the budget declined from the 131 billion naira appropriated for last year.
He attributed this to the current economic conditions in the Country, emphasizing that government would place more priority on completing all ongoing projects.
The budget had recurrent expenditure gulping 68 billion naira while 50.9 billion naira will go for capital expenditure.
Mimiko noted that the budget would be funded through aggressive independent revenue drive by all ministries, departments and agencies, blockage of revenue loopholes and allocation of funds to economically viable projects and programmes as well as allocation of funds to government priority areas.
The Governor therefore enjoined all citizens to join him in diversifying and investing in Solid Minerals and Agriculture.
The Hon. speaker of the house, Princess Jumoke Akindele, while receiving the appropriation bill assured the governor that the house would ensure speedy passage of the appropriation bill into law.