Oyo State Governor, Seyi Makinde has presented a N434.2 billion 2024 Appropriation Bill, christened “Budget of Economic Recovery”, to the House of Assembly for approval.
The governor noted that the budget is a chance for his administration to show its responsiveness to the current economic situation in the country.
Makinde, while presenting the budget proposal to the House presided over by the Speaker, Adebo Ogundoyin, said his government had been proactive in responding to the hardship people face.
He added that the administration had taken all necessary steps to ensure that the 2024 budget addresses the economic challenges of the coming year and also ensure that his vision of sustainable development in the State is achieved.
The governor, who commended the Assembly for its cooperation with his administration over the past years, urged the lawmakers to speedily consider the 2024 Appropriation Bill for passage.
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The total capital expenditure in the proposed budget estimates stands at N222,337,320,199.85 while the total recurrent expenditure is N211,884,445,738.94, with education, infrastructure and health sectors getting the lion’s share of the allocations.
Makinde stated that the budgetary allocation for Education had remained consistent with his administration’s commitment to allocating over 20 percent, a development for which it has continued to receive commendations for matching the UNESCO’s standard, adding that his government’s commitment to building infrastructure that targets the economic expansion of the State would continue in 2024.
Responding, the Speaker of the House of Assembly assured the governor of speedy consideration of the Appropriation Bill.
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