Tribune Online

Makinde presents N434.2bn 2024 budget proposal to Oyo Assembly

112
Reach the right people at the right time with Nationnewslead. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication @ Nationnewslead@gmail.com Call or Whatsapp: 08168544205, 07055577376, 09122592273

Governor Seyi Makinde of Oyo State on Tuesday presented a budget of N434.2 billion for 2024 to the State House of Assembly for consideration and approval.

According to Makinde, the budget is made up of N222.3 billion for capital expenditure, and N211.8 billion for recurrent expenditure.

Presenting the budget tagged ‘Budget of Economic Recovery’, the governor said the capital expenditure is 2.4 per cent higher than the recurrent expenditure.

He added that the 2024 budget was estimating an increased Internally Generated Revenue of N72 billion with an average of N6 billion monthly.

Education gets the highest share of the budget with N90.6 billion or 20.8 per cent of the budget, followed by Infrastructure which gets N74.3 billion or 17.1 per cent of the appropriation bill.

The health sector takes the third position with N40. 9 billion, that is 9.4 per cent and Agriculture has N15. 8 billion, that is 3.6 per cent of the total budget proposal.

He 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 to increase taxes.

He urged the House of Assembly to see to the speedy passage of the budget proposal for the state’s economic growth and benefit of the people of Oyo State.

Responding after the presentation, Speaker of the House of Assembly, ‘Debo Ogundoyin (PDP Ibarapa East) assured the governor of speedy consideration of the Appropriation Bill.

READ ALSO FROM NIGERIAN TRIBUNE 

 


Reach the right people at the right time with Nationnewslead. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication @ Nationnewslead@gmail.com Call or Whatsapp: 08168544205, 07055577376, 09122592273



Leave a Reply

Your email address will not be published. Required fields are marked *

mgid.com, 677780, DIRECT, d4c29acad76ce94f