The Oyo State House of Assembly has taken the first reading of the Finance Bill, 2024 of the supplementary budget of seven nine billion, seven hundred and thirty million naira (N79,730,000,00:00) only.
The bill was read on Tuesday the plenary session presided over by the Speaker, Hon. Adebo Ogundoyin.
The House also considered the first reading of Oyo State Supplementary Appropriation Realignment Bill, 2024.
The bills were contained in the two letters forwarded to the House by Governor Seyi Makinde.
The Speaker said the supplementary and realignment became necessary to address emerging priorities in the context of the current economic challenges and ensure effective implementation of critical key projects across the state.
According to him, it will also take cognizance of the payment of the newly approved minimum for the state civil and public service.
If the supplementary budget eventually passed, the 2024 budget will now increase from four hundred and thirty-eight billion, four hundred and forty-seven million, eight hundred and seventy-eight thousand, five hundred and forty-eight naira, thirty-nine kobo only (#438,447,878,548.39) to five hundred and seventeen billion, seven hundred and eighty-four million, eight hundred and seventy-eight thousand, five hundred and forty-eight naira, thirty-nine kobo only (#517,784,878,548:39) for both recurrent and capital expenditures
Meanwhile, some of the Ministries, Departments and Parastatals (MDAs) featured in the supplementary budget realignment include Fire Service Agency, Ibadan Urban Flood Management Project, Oyo State Agribusiness Development Agency, Sustainable Development Goals, and Ministry of Education, Science and Technology.
Others are Emmanuel Alayande University of Education, Oyo, First Technical University, Oke – Ogun Polytechnic, Saki, Ministry of Health, Oyo State Road Maintenance Agency, Water Corporation of Oyo State, the Judiciary, Ministry of Environment and Natural Resources among others.
