Ondo State Governor, Dr. Olusegun Mimiko, will on Tuesday, present the 2014 budget estimates to the House of Assembly.
A statement by the Commissioner for Information, Mr. Kayode Akinmade, in Akure on Sunday, explained that the event will take place by 1pm at the House of Assembly Complex on Igbatoro Road, Akure.
It urged members of the State Executive Council, Heads of Ministries, Department and Agencies of government and other invited members of the public to attend punctually.
The state government had last year, presented to the legislature, a budget of N151 billion tagged, “A caring heart budget IV,” for the 2013 fiscal year.
An assessment of last year’s budget proposal, showed that it was N5 billion lesser than the 2012 budget, which was N156 billion.
Mimiko said at the presentation, which was attended by top government functionaries and traditional rulers, that the budget was meant to further consolidate the gains of the last four years.
He said that the 2013 estimates had N73.35 billion as the recurrent expenditure while capital expenditure was estimated at N77.65 billion.
The governor said N10.24 billion had been set aside for the Ondo State Oil Producing Areas Development Commission out of the capital expenditure estimates.
Mimiko also explained that the budget would be actualised through the N43 billion expected from statutory allocations and the Internally Generated Revenue of N12 billion.
He added that N10 billion was being expected from Value Added Tax; N7 billion from Roll Over Fund; N23 billion from bonds; and N6 billion would be sourced from grants and credit from development partners.
