Governor Oluwarotimi Akeredolu of Ondo State on Tuesday said the 2020 Appropriation Bill termed ‘Budget of Growth’ which was signed into law, provided for aggregate expenditure of N187.8 billion.
Mr Akeredolu made this known in Akure, the state capital during the signing of the 2020 Appropriation Bill into law.
He explained that the amount was divided into N10.50 billion representing 5.6 per cent for debt servicing; N14.18 billion representing 7.6 per cent as statutory transfers to Ondo State Oil Producing Area Development Commission (OSOPADEC) and Ondo State Internal Revenue Service (ODIRS).
“The share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the state represented 10 per cent.
“Also the sums of N82.70 billion and N80.470…