Two weeks after Governor Seyi Makinde presented the 2024 appropriation bill, the Oyo State House of Assembly, on Tuesday, passed into law the appropriation sum of N438,447,878,548.39.
The approved sum is a N4.2 billion increase from the N434.22 billion presented by Makinde on December 5.
The record-time passage was a sequel to the presentation of the report of the House Committee on Finance, Appropriation, and State Economic Planning by its Chairman, Honourable Sunkanmi Babaloja (Egbeda constituency).
In the budget, recurrent expenditure for the 2024 Appropriation increased from N211,884,445,738.94 to N213,538,475,738.94.
The capital expenditure was increased from N222,337,320,199.85 to N224,909,402,809.45.
The Speaker of the Oyo State House of Assembly, Honourable Adebo Ogundoyin, said the Assembly approved an upward review of the 2024 appropriation bill to reflect the current economic realities and cater for some critical sectors of the state economy.
He expressed optimism that the budget will help drive the economic recovery agenda of Governor Seyi Makinde in the next fiscal year.
Ogundoyin assured full legislative oversight to ensure optimum performance of the budget, saying MDAs should be ready to work their fingers to the bone towards the full and successful implementation of the 2024 budget.
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