The Oyo State House of Assembly has passed the downward review of the state 2020 Appropriation Bill of N174 billion into law.
This followed the third reading of the Oyo State Appropriation and Finance Bill 2020 at plenary presided over by the Speaker, Mr. Adebo Ogundoyin.
The 2020 Appropriation Bill was reviewed by the State Assembly from N208 billion to N174 billion.
According to the report presented by the Chairman, House Committee of Public Account, Finance and Appropriation, Mr. Akeem Mustapha, the recurrent expenditure of over N110 billion naira was reviewed to N108.9 billion while capital expenditure of N103.3 was reviewed to N65.1 billion.
Mr. Mustapha explained that the review was in line with the proposition of the executive arm of government, which is to reduce the budget from N208 billion to N169 billion.
The Chairman added that the State Assembly jack up the budget to N174 billion in order to accommodate payment of gratuity and pension of the retirees.
Mosope Kehinde
