The Oyo State House of Assembly has, on Tuesday, passed the State 2022 Appropriation Bill into law.
The lawmakers passed the Bill after a clause-by-clause consideration of the items in the financial proposal.
As passed, the new budget is a total of N294,704,585, 356.94.
The passed budget is about N200million higher than the proposed N294.5billion sent to the lawmakers by Governor Seyi Makinde on September 29, 2021.
The approved budget comprises a capital expenditure of N154,678,236,971 and a recurrent expenditure of N140,526,448,385.94.
The approved budget comprises a capital expenditure of N154,678,236,971 and a recurrent expenditure of N140,526,448,385.94.
Prior to the approval, the House Committee on Public Accounts, Finance and Appropriation had presented its report on the state’s 2022 Appropriation Bill to the lawmakers and it was was also adopted.
The approved budget is an increase of N188,140,249.94 to the budget proposal of N294,516,445,107 presented by Governor Seyi Makinde at plenary on September 29.
Highpoint of the budget indicates that N26,215,740,129 was allocated to the Governor’s Office; N1,346,375,002 for the Amotekun Corps; N6,044,716,456.29 for the Oyo State House of Assembly and N7,770,486,614 for the Oyo Agribusiness Development Agency.
Other allocations are N15,053,368,731 for the Oyo State Pension Board; N6,154,000,000 for the Ladoke Akintola University of Technology (LAUTECH); N5,980,000,000 for the Judiciary and N14,100,000,000 allotted to the Ibadan Urban Flood Management Agency, among others.
Confidence Okwuchi
