Uncategorized

GOVERNOR OF ONDO STATE, ARAKUNRIN OLUWAROTIMI ODUNAYO AKEREDOLU, SAN ON THE OCCASION OF THE SIGNING OF THE YEAR 2021 APPROPRIATION BILL INTO LAW

FRIDAY, 18TH DECEMBER, 2020 AT COCOA CONFERENCE CENTRE, GOVERNOR’S OFFICE, AKURE

It is with great pleasure that I welcome you all to the ceremony for signing into Law the year 2021 Appropriation Bill. I should remark that the year 2021 Appropriation Law marks the last in our first term. Hence, it is with a grateful heart that I give glory to God Almighty who, in His infinite mercies, has kept us thus far and has crowned every of our efforts with success.

Ladies and gentlemen, let me use this auspicious occasion to express my appreciation to the good people of Ondo State who have stood by us in the long walk to this day. We appreciate your unwavering confidence, steadfastness, loyalty, trust and faith in us as shown in the Gubernatorial Election of 10th October, 2020 which you have used to renew our mandate for another four years.


In the course of the year, our economy was confronted with the global COVID-19 Pandemic and domestic upheaval of #EndSARS protest. Both have adversely affected our national economy. We are now confronted with low price of crude oil arising from the vagaries of the international oil market and reduced level of production both of which have invariably put our country into economic recession.

This has resulted in consistent dwindling in national revenue and its attendant reduction in allocations from the nation’s Federation Account to all tiers of government. The gains we made in the last three years in our independent revenue which have been the stabilising force in our public spending is also now being gradually wiped off. Despite all these, we have not lost hope. We have continued to update our strategies for strengthening our Internally Generated Revenue capacity without putting extra burden on the people.

The 2021 Budget, has a total Budget size of N174.873 billion. Out of this amount, N13.633 billion representing 7.8% is for Debt Service; N12.241 billion representing 7.0% is for Statutory Transfers to OSOPADEC and the 10% Share of Independent Revenue to Joint Account and Allocation Committee (JAAC) of Local Governments in the State. The sum of N79.084 billion i.e. 45.2% and N69.915 billion i.e. 40.0% are for Recurrent Expenditure and Capital Expenditure respectively.

A major principle to note about the Budget is the desire to creatively pull our economic ‘chestnut out of the fire’. Thus, the 2021 Budget will reactivate our economic life through technical and technological education. In this regard, Education has been allocated 19.07% of the Budget, while 21.19% has been set aside with a view to ensuring that all ongoing infrastructural projects across the State are completed. We will use the 2021 budget to sustain the hopes of our people. In no distant time, the Commissioner for Economic Planning and Budget will make the details of the Budget available to the public.

I will plead that we all acquaint ourselves with the Budget and position ourselves to run with the provisions as government would ensure its strict implementation. In doing this, we assure you of prudent management and accountability and this will be strengthened by the oversight function of the House.
Ladies and gentlemen, I wish to particularly appreciate Mr Speaker and all the members of Ondo State House of Assembly for scrutinising and passing the Budget proposal in record time, without compromising the integrity of the process. I also want to specially appreciate members of the House Committee on Finance and Appropriation, who, throughout the process of crafting the Budget, demonstrated uncommon sense of dedication and responsibility by painstakingly considering the details of the Budget, even at the expense of their personal conveniences, to ensure timely passage of the Appropriation Bill.
To all members of that Committee,
I say ‘Thank you’.
It is also important that I appreciate other stakeholders that were involved in
crafting this Budget, for the numerous ways you have contributed to the success story of today. My appreciation also goes to the Management and Staff of Ministry of Economic Planning and Budget ably led by the Commissioner for their dedication, patriotism and above all, innovativeness, in bringing about the changes we have witnessed in Budget crafting in the last three-and-half years.

As the year draws to a close, I wish you God’s profound peace, abiding presence and guidance in all your endeavours.
God bless you all.
Compliments of the season.

Leave a Comment

Your email address will not be published.

You may also like

Business Education Government

NDPC Conducts Training Session for NAICOM Staff on Data Protection

post-image

The Nigeria Data Protection Commission (NDPC) recently held an introductory training session for employees of the National Insurance Commission (NAICOM), aimed at enhancing their understanding of the Nigeria Data Protection Act. This initiative is particularly important as NAICOM serves as a key regulator and data controller within the insurance sector.

The session commenced with opening remarks from Dr. Vincent Olatunji, National Commissioner/CEO of the NDPC, who was represented by Mrs. Abiola Jide-Abe, the Head of Strategic Partnerships and Communication. In her address, Mrs. Jide-Abe praised Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance, for his proactive approach in ensuring that all NAICOM staff are trained in data protection and privacy. She noted that this training marks a significant step towards…

Read More
Business Culture Economy Health

The Promising Potential of Glutathione in Managing Chronic Health Conditions

post-image

In recent years, the spotlight has increasingly shone on glutathione, a powerful antioxidant that plays a crucial role in maintaining our overall health. While its importance is often overlooked, glutathione’s potential benefits for chronic conditions such as cancer, prostate health, diabetes, and hypertension cannot be underestimated. As more research unfolds, it becomes imperative to consider glutathione supplementation as a viable adjunct in the management of these health issues.

Cancer: A Double-Edged Sword

Glutathione is renowned for its antioxidant properties, which protect cells from oxidative damage—a known contributor to the initiation and progression of cancer. By neutralizing free radicals, glutathione may help reduce the risk of DNA mutations and subsequent tumor formation. For patients undergoing chemotherapy, glutathione supplementation may offer protective benefits, alleviating some of the harsh side effects associated with treatment while potentially enhancing its effectiveness.

However, it’s essential to recognize the complexity of glutathione’s role in cancer. Elevated levels of glutathione…

Read More
Business Culture Education Environment Health International

The Importance of Turmeric: Health Benefits and Ways to Incorporate It into Your Diet

post-image

Turmeric, often referred to as the “golden spice,” has been celebrated for centuries in traditional medicine, particularly in Ayurveda and Traditional Chinese Medicine. This vibrant yellow-orange root, which is a member of the ginger family, is known not just for its distinct flavor but also for its remarkable health benefits. With its active compound, curcumin, turmeric offers a multitude of advantages that can enhance overall well-being. In this article, we’ll explore the importance of turmeric, its numerous health benefits, and practical ways to incorporate it into your daily diet.

The Nutritional Profile of Turmeric

Turmeric is packed with essential nutrients, including:

  • Vitamins: It contains vitamins C, E, and K, which are vital for immune function, skin health, and bone health.
  • Minerals:
Read More
Business Culture Economy Finance Fintech Government

Nigeria Commits to Women Entrepreneurs Finance Code to Boost Female-Led Businesses

post-image

 

In a landmark event held at the Central Bank of Nigeria (CBN) headquarters in Abuja on Wednesday, October 9, 2024, top financial leaders declared their commitment to the Women Entrepreneurs Finance (We-Fi) Code. The declaration, aimed at empowering Nigerian women entrepreneurs, marked a significant step toward promoting financial inclusion for women across the country.

Present at the event were key figures, including Ms. Emem Usoro, Deputy Governor of Operations, CBN; Dr. Olasupo Olusi, Managing Director of the Bank of Industry; Mr. Olayemi Cardoso, Governor of the CBN; Dr. Tony Okpanachi, Managing Director of the Development Bank of Nigeria; Ms. Bertine Kamphuis, Lead Country Economist for the World Bank Group; and Mr. Philip Ikeazor, Deputy Governor of Financial System Stability at the CBN.

Speaking at the declaration, CBN Governor Olayemi Cardoso emphasized the importance of this commitment. “This commitment is not just symbolic but a significant stride in closing the gender financing…

Read More
Business Culture Economy Government

NITDA, NADF Partner to Boost Agriculture and Food Security through Technology

post-image

 

In alignment with President Bola Ahmed Tinubu’s Renewed Hope agenda, which focuses on strengthening agriculture and achieving food security across Nigeria, the National Information Technology Development Agency (NITDA) and the National Agricultural Development Fund (NADF) have signed a Memorandum of Understanding (MoU) aimed at leveraging technology to transform the agricultural sector.

The MoU is designed to integrate advanced technologies into agricultural practices, driving productivity, optimizing resource use, and creating innovative solutions to address the challenges faced by the industry. This strategic collaboration between NITDA and NADF is expected to propel innovation, enhance efficiency, and improve yields, all in support of Nigeria’s national food security goals.

By incorporating cutting-edge technologies, this partnership will enable the development of modern agricultural solutions that contribute…

Read More
Business Economy Entertainment Environment

Earthshot: MultiChoice Talent Factory (MTF) filmmakers showcase Africa’s environmental challenge

post-image

The world is warming faster than at any time in recorded history. This rapid climate change is already releasing a wave of extreme weather – wildfires, hurricanes, floods and droughts.

 

The only way to slow this wave of catastrophic climate change is to slash our emissions of planet-warming greenhouse gases, including carbon dioxide.

It’s a long shot! To do it effectively, the world must reduce CO2 emissions by more than 40%, and protect 30 percent of our natural, fresh-water and ocean resources.

To encourage the rapid progress that is needed,  the Earthshot (https://apo-opa.co/3BybPsJ) Prize was launched in 2020. Since then, the programme has awarded £15 million in prize money and helped generate a further £50 million of funding for 45 winners and finalists.

A significant part of the Earthshot initiative is to spread the word, to inspire, to connect. To ensure impacts on a continental scale, pan-African entertainment group MultiChoice…

Read More
Business Gadgets News Software Technology

WhatsApp Introduces New Features to Enhance Group Privacy and Safety

post-image

 

WhatsApp, the widely used messaging app, has introduced a set of new features aimed at providing users with greater control and insight before joining group chats. The update, which comes in response to concerns about users being added to groups without their consent, allows individuals to view essential details about a group before deciding whether to stay or leave.

In a message following the update, WhatsApp highlighted the new feature:
“New: Know more before joining a group. Added to a new chat? Now you can get a closer look at more details, like who added you, when the group was created, and what it’s all about. So you can do a quick safety check before you stay and hang out.”

The company emphasized its commitment to user safety and security, noting, “When you’re added to a group, we show you information about the group so you can decide if you want to…

Read More
Business Culture Health

World Mental Health Day: Raising Awareness and Promoting Global Mental Wellbeing

post-image

 

World Mental Health Day is observed annually on October 10, with the aim of raising awareness about mental health issues and mobilizing efforts to support mental well-being globally. This day provides an important platform for highlighting the challenges and stigma associated with mental health, while promoting strategies for improving mental health care.

Established by the World Federation for Mental Health in 1992, World Mental Health Day has grown into a global movement, encouraging open dialogue about mental health conditions such as depression, anxiety, schizophrenia, and bipolar disorder. The theme for each year focuses on different aspects of mental health, ranging from suicide prevention to mental health in the workplace. In 2024, the theme is “Mental Health is a Universal Human Right,” emphasizing the need for equitable access to mental health care for everyone, everywhere.

The day serves as a reminder that mental health is just as important as physical health, yet…

Read More