Governor Rotimi Akeredolu of Ondo State, on Tuesday, signed the 2020 budget of N187.8 billion into law. The budget which was tagged ‘Budget of Growth’ has the aggregate expenditures of N187.858m with the sums of N82.700 billion and N80.470 billion representing 44.1 per cent and 42.7 per cent for Recurrent Expenditure and Capital Development respectively. He said: “One of the key challenges to budget implementation is unavailability and inadequacy of required funds. This is occasioned by a fall in oil revenue which incidentally, and regrettably too, provides over 80% of the country’s revenue receipts. “In view of the current state of finance, the responsibility of implementing the laudable projects as encapsulated in this budget rests on all of us.

Source: Nigerian Tribune December 31, 2019 18:33 UTC