Monday, December 23, 2019 10:32 pm
Oyo State Governor, Engineer Oluseyi Makinde today revealed that the total amount of the budget passed by the Oyo State House of Assembly for the 2020 fiscal year is N213, 788,033,002.97 billion.
Governor Makinde, who stated this after signing into law the Oyo State Appropriation Bill for the 2020 fiscal year into law, said that the state legislature added N4, 985,060,124.97 billion adding, “Both capital and recurrent expenditure were increased by the House of Assembly compared to the budget proposal which we submitted.”
He explained, “So, the total capital expenditure is now One Hundred and Three Billion, Three Hundred and Sixty Million, One Hundred and Seventy-Seven Thousand, Eighty-Three Naira and Ninety Seven Kobo (N103, 360, 177,083.97 Billion). And the total recurrent expenditure is now One Hundred and Ten Billion, Four Hundred and Twenty Seven Million, Eight Hundred and Fifty-Five Thousand, Nine Hundred and Nineteen Naira (N110, 427,855, 919 Billion)”.
He stated, “As stated in my budget presentation speech last month, our objective with this budget is to achieve at least 70% implementation by the end of the fiscal year”.
The Governor thanked the state legislature for promptly scrutinizing and passing the budget proposal, so that its implementation could take effect from the beginning of next year.