The Oyo state governor, Engineer Seyi Makinde, this Monday, presented #266 Billion as the state’s 2021 budget to the Oyo State house of assembly.
The event which was held at the state’s House of Assembly Chambers, Parliament Building, Agodi-Secretariat, Ibadan had in attendance the deputy governor of Oyo state, engineer Rauf Olaniyan; Chief of staff, Oyebisi Ilaka; head of the service, Mrs. Amidat Ololade Agboola; the Alaafin of Oyo, Oba Lamidi Adeyemi; Olubadan of Ibadanland, Oba Saliu Akanmu Adetunji, amongst others.
The total budgeted sum presented by governor Makinde was Two Hundred and Sixty-Six Billion, Six Hundred and Forty-Four Million, Two Hundred and Seventy-Three Thousand, Three Hundred and Five Naira, Four kobos.
The 2021 appropriation bill which represents a 53.16% increase over the 2020 revised budget has Recurrent Expenditure of One Hundred and Thirty-Six Billion, Two Hundred and Sixty-Two Million, Nine Hundred and Ninety Thousand, and Nine Naira, Forty-One Kobo, while the Capital Expenditure is One Hundred and Thirty Billion, Three Hundred and Eighty-One Million, Two Hundred and Eighty-Three Thousand, Two Hundred and Ninety-Five Naira, Sixty-Three Kobo.
The 2021 appropriation bill is titled, a Budget of Continued Consolidation by Governor Seyi Makinde.
TRACK-UP…
For infrastructure, governor Makinde awarded a total sum of forty-six billion, sixty-seven million, six hundred and ninety-five thousand, six hundred and sixty-one Naira, thirteen Kobo, representing 17.27% of the total budget sum. An increase from 33.66 billion Naira for infrastructure in our 2020 budget.
The education sector leads in terms of budgetary allocation of fifty-six billion, three hundred and forty-eight million, three hundred and seventy-five thousand, six hundred and thirty-five Naira, fifty-five Kobo, representing 21% of the total budget. And an increase of about 12 billion Naira over last year’s budget.
To underscore the importance of agriculture to the state’s economy, the sector received an allocation of the sum of nine billion, five hundred and seventy-five million, forty-nine thousand, nine hundred and twenty-three Naira, fourteen Kobo, which is 3.6 % of the total budget.
For Health Sector, the governor proposed a budgetary allocation of thirteen billion, two hundred and ninety-two million, five hundred and twenty-five thousand, four hundred and twenty-nine Naira twenty-eight Kobo (N13, 292,525,429.28) which represents 4.9% of the total budget.
Governor Makinde, however, who disclosed that he planned to increase the state Internally generated revenue (IGR) to #102 Billion by widening the tax net to bring in more taxpayers into the system, noted that the 2021 budget is targeted towards 70% budget performance.
In his remark, the speaker, Oyo state house of Assembly, Rt. Honorable Adebo Ogundoyin assured the people of Oyo State that the 9th Oyo Assembly will work with the Executive and other stakeholders to ensure at least 70% budget performance for 2021 which is also the focus of the Governor as against 50.03% performance of the outgoing fiscal year.
He added that the assembly is ready to perform its constitutional duty of lawmaking and to also ensure that the Executive arm of the Government encounters no legal impediment in the performance of its functions for the overall welfare and wellbeing of the State and its residents.
According to the speaker, the first reading of the Oyo state 2021 appropriation bill will hold soonest.