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Ondo state Govt. proposes 162 Billion Naira Budget for 2014 Fiscal year

Ondo State Governor, Doctor Olusegun Mimiko has presented the 2014 Appropriation Bill of One hundred and Sixty-two Billion Naira to the State House of Assembly for consideration and approval.
A breakdown of the budget estimate shows that the sum of Sixty-nine Billion Naira is allocated for recurrent expenditure while ninety-two Billion Naira is for capital expenditure.
Presenting the budget estimate, Governor Olusegun Mimiko explained that the 2014 budget will be financed with statutory allocation, internally generated revenue, value added tax, mineral derivation, SURE-P and NNPC refund.
Others are bonds, loans grants from development partners, excess crude account and education endowment fund.
Akure Correspondent, Jonah Omorowa reports that the major thrust of the 2014 budget estimate is the consolidation of on-going projects in that state.

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