Oyo state governor, Engineer Seyi Makinde has presented a budget proposal of Three Hundred and Ten Billion Naira (310,000,000,000) as the appropriation bill for the 2023 fiscal year before the state house of assembly.
Newsarena.ng reports that Infrastructure took the largest percentage of the budget, followed by education and health.
The appropriation bill tagged: Budget of Sustainable Development has over one hundred and fifty-four billion naira as the capital expenditure representing 49.79% of the total budget proposal while the proposed recurrent expenditure stood at over one hundred and fifty-five billion naira.
According to governor Makinde, 27.65% of the budget proposal has been allocated to Infrastructure while the Education has the second largest allocation of 18.78% of the total budget proposal.
He said there was a marginal drop on estimate for infrastructure over last year’s 52.97% noting that the focus of the 2022 budget was on completion of projects.
Governor Makinde said the 2023 proposed budget when implemented would meet the needs of the people of Oyo State.
He restated commitment to continue to deliver good governance to our people. We believe that this Budget of Sustainable Development is just what we need as we navigate the final days of our first tenure in office.
Reacting, speaker, Oyo state house of assembly, Mr Adebo Ogundoyin said the lawmakers would not only ensure the speedy passage of the budget but follow its implementation to achieve the desired results.
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