Mimiko Signs N168 Billion 2014 Appropriation Bill Into Law

By IAfrica
In Nigeria
Mar 5th, 2014

MimikoOndo State Governor, Dr Olusegun Mimiko has signed the 2014 Appropriation Bill of the State into law.

The signing ceremony which took place at the Cocoa Conference Hall of the Governor’s Office, Akure was attended by members of the state executive council, members of the State House of Assembly, Chairmen of State Government parastatals, top government officials and party leaders

Dr Mimiko, in his address, stated that the budget was a reference point in global practices.

He disclosed that the 2014 budget signed into law which totalled N168 billion, is broken down into N71 billion recurrent, and N96 billion capital expenditure, and is geared towards the sustenance of all the laudable programmes of his administration.

He further said the budget is meant to substantially expand the economic base of the State through continuous involvement in infrastructural development such as road network, industrial power plant and agriculture.

Speaking earlier, the Commissioner for Budget and Economic Planning, Mr. Akin Adaramola commended the members of the Finance and Appropriation Committee, who denied themselves of personal conveniences by going through the budget proposal in record time.

He added that the budget is a departure from the old practice as it was prepared in compliance with the International Public Sector Accounting Standards.

Governor Mimiko had on 31st of December, 2013 presented the 2014 budget before the State House of Assembly. It was thereafter passed by the Assembly about a fortnight ago.

A soft copy of the budget will be placed online for interested members of the public to access it.

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