Economy

Gov. Makinde Assents To 2021 Budget

Oyo State governor, Engineer Seyi Makinde has signed the state’s 2021 appropriation bill of 268.8 billion naira into law.

Governor Makinde while assenting the bill at the Executive Council Chamber, Agodi-Secretariat, Ibadan said the 2021 budget with 70% performance target would accommodate more developmental projects for the state.

The governor who explained that the budget would increase the state’s response to economic challenges maintained that his administration would do the needful to achieve the fiscal sustainability of the budget.

It would be recalled that Governor Seyi Makinde had ordered the downward review of the 273.7 Billion naira budget earlier approved by the Oyo State House of Assembly to 268.8 Billion naira due to the need to achieve a favorable budget performance.

As a result, the 273.7 billion naira earlier approved has since been reduced and the budget was passed in the sum of 268.8 Billion naira on December 18, 2020, representing an increase of 2.2 Billion naira on the budget proposal of 266.6 billion naira submitted by the governor on November 24, 2020.

Iyabo Adebisi

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