Oyo Assembly Harps On Ways To Fund 2023 Supplementary Budget
Oyo State lawmakers have reacted
to the 2023 Supplementary budget forwarded to the State House of Assembly by Governor Seyi Makinde harping on the need to
put new measures in place towards expanding and broadening the tax net of the State to fund the budget increment.
This was as the 2023 Supplementary budget scales 2nd reading.
This was part of the submission of the lawmakers as the 2023 Supplementary budget is referred to the House Committee on Finance, Appropriation, and Budget for further scrutiny.
It would be recalled that Governor Seyi Makinde is seeking an upward review of the 2023 budget from #310,432,500,000 to #352,282,500,000.
Governor Makinde said the supplementary became necessary due to the adverse economic effects of the removal of subsidy on Premium Motor Spirit PMS and the floating of the exchange rates by the Federal Government.
While deliberating on the supplementary budget, the lawmakers noted the vital need for the State Government to increase and expand its tax revenue base to fund the budget to avoid placing an additional burden on the citizens who are already feeling the adverse effects of the two Government policies.
They appealed to the State Government not to increase the tax rates but to ensure that more people who have not been paying taxes are captured in the tax nets.
This is just as they appealed to the State Government to ensure that adequate and necessary tax remittances are made to the coffers of the State Government to avoid leakages
The Speaker, Hon. Adebo Ogundoyin who appreciated his colleagues for their various contributions assured that the State legislature would continue to perform its oversight functions on Government activities.
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