The Governor of Oyo state, Seyi Makinde has presented a total budget proposal of 434.221 765 938.

 

Governor Makinde christened the 2024 budget proposal ‘Economic Recovery.’

 

The governor, while making the budget presentation at the plenary sitting of the state assembly on Tuesday, said the proposal represents the wishes and aspirations of the state.

 

The governor earmarked the total sum of two hundred and twenty two billion, three hundred million, three hundred and twenty thousand naira (N222.3b) for capital expenditure.

 

While a total sum of (N211.8b) Two hundred and eleven billion, eight hundred and eighty four million, four hundred and forty five thousand for recurrent expenditure.

 

These figures according to the governor, reflects a slight difference of 2.4 percent increase in capital expenditure as against recurrent expenditure.

 

Education received top priority with the budget allocation with 90.6bn, a 20percent of the total budget while 74.3b was budgeted for Infrastructure, taking 17.11% of the 2024 appropriation. 

 

The governor urge the Assembly to give the budget accelerated hearing and passage for the benefit of the people of Oyo state.

 

In his speech, the speaker of the House of Assembly Rt. Hon. Adebo Ogundoyin promised accelerated but thorough hearing of the budget proposal to ensure that the executive does not encounter legal impediments in the performance of its functions for the development of the state.