Governor Makinde presents ₦434.2bn for 2024 budget proposal for Oyo State
The governor stated that the capital expenditure is 2.4% higher than the recurrent expenditure.
Oyo state Governor, Seyi Makinde. [Twitter/@SeyiMakinde]
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According to Makinde, the budget is made up of ₦222.3 billion for capital expenditure, and ₦211.8 billion for recurrent expenditure. Presenting the budget tagged: “Budget of Economic Recovery”, the governor said the capital expenditure is 2.4% higher than the recurrent expenditure.
He added that the 2024 budget was estimating an increased Internally Generated Revenue of ₦72 billion with an average of ₦6 billion monthly. The News Agency of Nigeria (NAN) reports that Education gets the highest share of the budget with ₦90.6 billion or 20.8% of the budget, followed by Infrastructure which gets ₦74.3 billion or 17.1% of the appropriation bill.
The health sector takes the third position with ₦40. 9 billion, that is 9.4% and Agriculture has ₦15. 8 billion, that is 3.6% of the total budget proposal.
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H
e promised that the 2024 budget would cover projects, policies and actions “which when implemented will cushion the effect t of the hardship the people are facing as a result of fuel subsidy removal.”
Makinde further said that his administration would continue to use technology to block loopholes, saying his government has no plan of increasing tax. He urged the House of Assembly to see to the speedy passage of the budget proposal for the state economics' growth and benefit of the people of Oyo State.
Responding after the presentation, Speaker of the House of Assembly, Mr ‘Debo Ogundoyin (PDP Ibarapa East) assured the governor of speedy consideration of the Appropriation Bill.
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![Akwa-Ibom Governor Umo Eno [The Guardian Nigeria]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'300'%20height%3D'172'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Akwa-Ibom Governor Umo Eno [The Guardian Nigeria]")