JUST-IN: Makinde Presents 2024 Budget Proposal to State Assembly
The Oyo State governor, ‘Seyi Makinde has presented the 2024 budget proposal of over 434.2 billion naira, (Four hundred and thirty-four billion, two hundred and twenty-one million, seven hundred and sixty-five thousand, nine hundred and thirty-eight naira, seventy-nine kobo.) to the state House of Assembly.
Governor Makinde, while presenting the budget at the plenary said the proposal represents the action plan of the roadmap to sustainable development.
In the breakdown of the 2024 appropriation bill tagged Budget of Economic Recovery, the governor earmarked a total sum of (222.337bn) for capital expenditure
while total recurrent expenditure carried 211.8bn.
Education took the larger share of the budget allocation with 90.6bn, a 20percent of the total budget while 74.3b was budgeted for Infrastructure, taking 17.11% of the 2024 appropriation.
Moreover, the Health sector took 40.9bn of about 9.44%, and the Agricultural sector, 15bn of 3.65% of the total budget.
According to him, the budget is an opportunity for the administration to show responsiveness to the current economic reality following the removal of fuel subsidy.
The governor, however, stated that his administration will continue to use technology to block loopholes noting that as done in previous years, insisting that the government has no plan to increase tax.
Details later…
Author
