The Ondo State House of Assembly has passed into law the 2026 budget of the Ondo State Oil Producing Areas Development Commission (OSOPADEC), totaling N60.99 billion.
The budget provides N7.5 billion for recurrent expenditure and N53.479 billion for capital projects aimed at strengthening infrastructure and other development interventions in the oil-producing communities of the state.
The passage followed the consideration and adoption of the report of the House Committee on OSOPADEC during plenary presided over by the Speaker, Rt. Hon. (Chief) Olamide Oladiji.
Presenting the committee’s report, its Chairman, Hon. Oluwatoyin Allen, said the budget was prepared to reflect prevailing economic realities, available resources and competing developmental priorities, while demonstrating the commission’s commitment to prudent financial management.
Allen explained that priority had been given to ongoing projects, with emphasis on their timely and effective completion to make them available for public use and enable residents of the mandate areas derive maximum benefits from the commission’s developmental initiatives.
The Speaker, Olamide Oladiji, commended members of the committee and other lawmakers for their contributions to the legislative process, urging OSOPADEC to ensure that the resources provided under the law are deployed judiciously.
The motion for the passage of the bill was moved by the House Leader, Hon. (Chief) Olatunji Oshati, and seconded by the lawmaker representing Ondo West Constituency II, Hon. Biola Oladapo.
The bill was subsequently passed into law through a voice vote.
The House also committed to relevant committees, after scaling second reading, a bill seeking to enact the Ondo State Taxes and Levies Law, 2025, and another bill seeking to amend the 2026 Ondo State Internal Revenue Service Appropriation Law.
