Wednesday, November 27, 2019 4:34 pm
Amidst jubilation and tight security, Oyo State Governor, Engr. Seyi Makinde on Wednesday November 27, 2019 made a public presentation the budget proposal for the 2020 fiscal year.
Laying the proposal of N208.8b on the table at the state House of Assembly, Makinde assured the legislators and residents of the state that every Kobo of the budget would be judiciously spent and accounted for.
Assuring that his administration would work towards achieving 70 percent implementation, because the proposed budget income matched the proposed expenditure, the governor said, “It is a budget that captures the aspirations of the good people of Oyo State. A budget that every woman, man, and child in Oyo State can relate to and be proud of. A budget in keeping with our Roadmap for Accelerated Development in Oyo State 2019-2023″.
The Governor pointed out that infrastructure has the highest percentage allocation of 23.93 percent, stressing that it was his plan to be bullish with infrastructural development, especially road construction. “Light Up Ibadan” project, the installed Smart LED Street Lights in Ibadan will be replicated across the major towns and cities in Oyo State. Government will also procure new fire fighting vehicles, ambulances, water tankers and communication equipment”, he added.
He stated that his administration has provided for capital projects in the education sector along with regular payment of subvention, adding “education comes a close second to Works with a total allocation of 22.37 percent of the budget. The other areas which have been prioritized in the 2020 budget proposal are Healthcare at 5.18 percent and agriculture, to drive our economy, allocated 4.43 percent of the total budget proposal. We were able to keep the personnel cost down by over 10 percent compared to the 2019 budget. One of the key reasons for this is that we are carrying out a staff audit and creating a database of all staff in the Oyo State civil and public service. This ensures that we do not pay ghost workers or persons who possess fake certificates”.
He stated further, “Our capital expenditure increased by about 20 percent compared to the 2019 budget. Total capital expenditure of N100.14 Billion representing 47.9 percent of the total budget estimate. Increased allocation to capital projects directly contributes to a more buoyant economy and sustainable development. When we set out to prepare the budget, our aim was to keep the budget realistic. To prepare a budget where projected revenue matches projected cost, unlike what has been the practice in the past. I am happy to report that we have kept our promise to the people of Oyo State”.
Among those that graced the occasion were: the state Deputy Governor Engr. Rauf Olaniyan, members of the state executive council, monarch including Olubadan of Ibadanland, Oba Saliu Adetunji. Saliu Adetunj, Aje Ogungunniso 1.