The Governor of Oyo State, Seyi Makinde, presented a budget of N434.2bn for 2024 to the State House of Assembly for assessment and approval on Tuesday.
It was titled “Budget of Economic Recovery,” and contains the N222.3bn capital expenditure and N211.8bn recurrent expenditure.
Makinde confirmed that the implementation of the budget would help change the negative effect of fuel subsidy removal on the people of Oyo State. He pointed out that the capital expenditure was 2.4 per cent higher than the recurrent expenditure.
Although, the education sector got the largest share with N90.6bn or 20.8 per cent of the budget, followed by infrastructure with N74.3bn or 17.1 per cent.
The health sector got N40.9bn, which is 9.4 per cent and Agriculture had N15.8bn, being 3.6 per cent of the total budget proposal.
Makinde confirmed the usage of technology to amend damages in his administration as well as enhance the welfare of the people. However, he said his government had no plan to increase taxes.
He therefore urged the House of Assembly to meet the need of approving the budget to kickoff the economic vision and goals for the state.
Mr ‘Debo Ogundoyin who is the speaker of the House of Assembly gave the governor an assurance of swift assessment of the Appropriation Bill.
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