Updated: 2024 Supplementary Budget Will Address Emerging Economic Priorities as Oyo Assembly…
The Oyo State House of Assembly has taken first reading of Oyo State Supplementary Finance Bill, 2024 .
At Tuesday’s plenary session presided over by the Speaker, Hon. Adebo Ogundoyin, the Legislature also considered first reading of Oyo State Supplementary Appropriation Realignment Bill, 2024.
Reading 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.
The Supplementary Budget Revision and Realignment is put at One hundred and Forty Seven billion, Sixty – Seven million naira (#147,067,000,000.00) being Seventy – Nine billion, Three hundred and Thirty – Seven million naira (#79,337,000.000.00) only, while as Sixty – Seven billion, Seven hundred and Thirty million naira only as Budget Revision and Realignment of the Recurrent and Capital Expenditure for the services of Oyo State of Nigeria in the year ending on the 31st day of December, 2024.
Consequently, the 2024 Budget will now increase from Four hundred and Thirty-Eight Billion, Four Hundred and Forty-Four Million, Eight 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
The Supplementary Budget featured the Realignment of some MDAs.
They are the Fire Service Agency, Ibadan Urban Flood Management Project, Oyo State Agribusiness Development Agency, Sustainable Development Goals, Ministry of Education, Science and Technology, 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.
