The Governor of Edo State, Mr Godwin Obaseki, has signed the revised 2024 Appropriation Bill of the sum of four hundred and fifty billion naira into law.
The signing of the revised supplementary budget, which currently allocates fifty-seven per cent to capital and forty-three per cent to recurrent expenditure, was a result of the Edo State House of Assembly’s Tuesday’s passage.
Presenting the revised 2024 appropriation law to Gov. Obaseki for executive assent, the Speaker EDHA Blessing Agbebaku said it’s a tradition of the Parliament at the end of the year to appropriate for areas with shortfalls and others not budgeted.
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The Governor assented to the bill as witnessed by the Speaker, House Leaders, Chairmen of different Committees of the House and the Clerk of the Assembly, Alh. Audu Yahaya Omogbai.
Gov. Obaseki, in his remarks, explained that the review of the existing budgetary provision was necessitated by the present economic realities. The revision is aimed at addressing issues that arose during the end of the bad governance protest, demonstrating the government’s responsiveness to citizen concerns.
He said the revised budget will provide five billion naira with one billion dedicated monthly to assist SMEs, market women associations, and other groups to alleviate the sufferings of citizens.
The signing of the supplementary bill followed a request by the executive to accommodate a deficit in the 2024 budget, complete ongoing projects, and cover the deficit created by inflation.
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