Ondo State Governor, Oluwarotimi Akeredolu, yesterday, signed the state’s 2023 Appropriation Bill pegged at N275,979 billion into law.

The state’s House of Assembly had on Tuesday passed the budget after the governor presented a budget proposal of N272.736 before the lawmakers on December 5, 2022.

It was gathered that the Assembly increased the budget in line with the current economic realities in the country. Akeredolu, while signing the bill at the Exco Chambers of the Governor’s Office in Alagbaka, Akure, said that N129,839 billion, representing 47 per cent of the total budget, would cater for recurrent expenditure, while N146,140 billion, representing 52.99 per cent would be for capital development.

The governor said that the signed budget, christened “Budget of Shared Prosperity,” was prepared from the inputs garnered from the people during town hall meetings with various stakeholders across the state.

Earlier, the Speaker, Bamidele Oleyelogun, while presenting the 2023 appropriation bill to the governor, commended him for the priority attention given to all sectors of the economy of the state.

He said: “The pace of infrastructural development in the state is highly noticeable despite paucity of funds. All these are manifestation of the governor’s strong resolve and determination to take the state to the level he envisioned.”