Mimiko signs 2016 budget into law

The Ondo State governor, Dr. Olusegun Mimiko on Monday signed the 2016 Appropriation Bill into law. This came after the state House of Assembly had passed the budget of N123.7 billion into law last week Wednesday, following its increment from the initial N118billion earlier presented by the governor in February. With the increment, a sum of N69.194billion which represents 55.93 percent of the total amount was budgeted for recurrent expenditure while a sum of N54.5billion will be spent on a capital expenditure representing 44.07 percent. At the programme held at the governor’s office, Alagbaka, Akure, the governor said despite the economic challenges facing the state currently, the budget would be implemented towards the continued delivery of dividends of democracy to the people of the state....