ONDO SIGN #181.424 BILLION BUDGET
Governor, Oluwarotimi Akeredolu, SAN, at the signing of the budget said, his administration will concentrate
The governor lamented the huge concentration of budgets on recurrent expenditures, adding that it is worrisome and dangerous considering the state of development in the state.
Akeredolu said the decision was to ensure that governance was spread to the majority of the people who are not employed by the Government.
A total budget of N181.424 was signed into law by the governor who assured that the 2018 budget will advance the course of development in the state.
In the budget, capital expenditure for the 2018 fiscal year stands at N80.929 Billion which is 46% of the total Budget.
According to the governor, debt service will take an estimated sum of N13.600 Billion which is 7.5%. Statutory Transfers to OSOPADEC and Local Governments is N8.307 Billion which represents 4.6%.
"The sum of N78.588 Billion which represents 43.3% is set aside for recurrent expenditure. Put simply, this amount will be expended on salaries, allowances and grants. This is still very much on the high side considering the state of our development " he said.
The governor who also use the occasion to signed the Contributory Health Insurance Scheme Bill, said the bill will ensure that every resident of Ondo State has access to good health care services.
He said " the bill will ensure that all residents of Ondo State have financial protection, physical access to quality and affordable health care services
" It will also Protect families from the financial hardship posed by huge medical bills, Regulate the rise in the cost of health care services
"It will ensure that the poor and vulnerable shall be guaranteed the basic minimum package as defined under the National Health Act. "
Akeredolu said the bill will bring equitable distribution of health care costs across different income groups and maintain high standard of health care delivery services within the Health Sector.
According to him, the bill will provide efficiency in health care service delivery and improve private sector participation in the provision of health care services among others.
Speaking at the occasion, Speaker of the state House of Assembly, Rt. Hon. David Bamidele Oleyelogun promised the determination of the legislative arm of the government at moving the state to a greater feat.
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