The Governor of Oyo state, Engineer Seyi Makinde, has presented the state House of Assembly with a budget proposal of Three Hundred and Ten Billion Naira (310,000,000,000) as the appropriation bill for the 2023 fiscal year.
According to David Olayiwola, one of our correspondents at The Pendulum Media, infrastructure accounted for the largest portion of the budget, followed by health and education.
Over one hundred fifty-four billion naira, or 49.79% of the proposed total budget, is allocated to capital expenditures in the appropriation bill titled “Budget of Sustainable Development,” while over one hundred fifty-five billion naira is allocated to recurring expenses.
He said there was a marginal dropping in an estimate for infrastructure over last year’s 52.97% noting that the focus of the 2022 budget was on the completion of projects.
When enacted, the proposed budget for 2023, according to Governor Makinde, will meet the needs of the residents of Oyo State.
Makinde reaffirmed his resolve to continue providing Oyo citizens with good governance. “As we traverse the last few months of our first term in office, we feel that this Budget for Sustainable Development is exactly what we need.”
Adebo Ogundoyin, the speaker of the Oyo State House of Assembly, responded by saying that the legislators will follow the budget’s execution in addition to ensuring that it was passed quickly.
Mr. Ogundoyin commended Governor Makinde for running an all-inclusive administration which has led to the spread of dividends of democracy across all the geopolitical zones across the State.
Earlier, some of the lawmakers used the opportunity of the budget presentation to solicit more support from the executive on infrastructural development at the grassroots and completion of ongoing projects
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