Seyi Makinde cuts Oyo 2019 budget from N285b to N182b

By Tony Okechukwu


Governor Seyi Makinde of Oyo State has cut down the State’s 2019 budget from N285 billion to N182 billion.

The Governor said this in a tweet on Wednesday, that the initial budget presented to the House of Assembly, was unrealistic.


Mr. Makinde said: “This afternoon, I signed the Oyo State Appropriation Review and Finance Bill, 2019, a revised budget for the State, into law. In view of the current financial state of our State, the budget of N285b approved by the previous administration was unrealistic”.

He added: “We’ve revised the budget downward to N182b; This includes an upward review of the budget for education to 10%. Our administration will work towards improving the economy of the State, so that subsequent budgets would match our financial capabilities and budget implementation is above 70%”.

The reviewed budget allocated N98 billion for recurrent expenditure, while N83.62 billion was allocated for the capital expenditure, meant for the services of Oyo state in the year ending December 31, 2019.

Immediate past Governor, Abiola Ajimobi, had approved the N285b budget.

The budget review was in pursuant to the resolution of the House on Thursday, August 29, 2019.

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