By Taiwo Gbamila
2023: Ondo State House of Assembly passes over N14b OSOPADEC Budget into law
_…over N10.6b for Capital expenditure while over N3.6b is for recurrent expenditure_
The Ondo State House of Assembly, has passed 2023 budget of the Ondo State Oil Producing Area Development Commission (OSOPADEC) into law.
Over N14billion was passed into law on Wednesday, 17th May, 2023 at the Ondo State House of Assembly Complex, Igbatoro Road, Akure.
It would be recalled that the State Government presented over 14 billion naira to the house some weeks ago and was committed to the joint Committees of OSOPADEC and finance and appropriation for scrutiny became law after scaling through the third reading at a plenary presided over by the Speaker, Rt. Hon. Bamidele OleyelogunOleyelogun
In the budget, 10,634,174,350 billion naira is for Capital expenditure while 3,679,285,269.57 billion naira is for recurrent expenditure.
The Chairman House Committee on Finance and Appropriation, Hon. Akintomide Akinrogunde, while presenting the report of the joint Committees earlier revealed that the committees observed that the projected Revenue of 40 percent of 130 percent oil derivation was in tandem With the provision for OSOPADEC in the year 2023 Budget of the State.
He added that the Commission hasn’t actually ensured peace and tranquillity in the Niger Delta Region through the engagement of security Companies for Waterways Surveillance which has made the region one of the most peaceful in the Niger Delta region in the Country.
That the engagement of waterways surveillance has no doubt reduced crime rate as some of the restive youth are now gainfully employed by the private security companies hence the need to make additional Budgetary provision for waterways surveillance to sustain the existing peace in the mandate area.
That the template of the Appropriation Bill was in tandem with the National Chapel of Accounts and the Nigerian Governor’s Forum.
That the year 2023 OSOPADEC Budget is almost 70 percent Capital intensive and will definitely translate to initiation of new projects, completion of some on-going projects and commissioning of some vital projects which will transform the lives of the people in the mandate area.
The committees commended the commission for the adoption of contributory pension scheme to further improve the lives of its employee even after retirement.
The Committees, however, recommended that all on-going projects of the Commission should be given accelerated attention so as to get them completed for the use of the people in the mandate areas while the Management team of OSOPADEC should not rely solely on the 40 percent of 13 perfect Oil derivation fund but be more rigorous and creative in their collaboration with both local and international organizations/donors so as to meet expectations.
That the commission should, as a matter of urgency carry out a critical assessment of all vehicles with the intent to auction the unserviceable ones rather than wasting limited public fund on refurbishing them.
That the Commission should be more rigorous in training and re-training of its Staff for optimal performance to enhance higher productivity and that the procurement plan of the Commission should be more defined and
direct.
After the Speaker subjected the report to critical debate at plenary, it was unanimously adopted for passage through a majority voice vote.
