The Oyo state House of Assembly has passed the 2021 appropriation bill of N273.7 into law, insideoyo.com reports.
Governor Seyi Makinde had initially proposed a total budget sum of N266.6 billion for 2021 fiscal year but was reviewed upward by the lawmakers to the sum of N273.7 billion.
The House passed the appropriation bill into law on Tuesday following the House Committee on Public Account, Appropriation and Finance’s reports during its plenary on Tuesday.
According to the Chairman of the state Assembly Committee on Public account, finance and Appropriation Hon. Akeem Mustapha the amendment proposed that the sum of over N136billion was replaced with the sum of over N137billion for total recurrent expenditure.
While the Amendment proposed of over N130.3 billion was replaced with over N136.1 billion for total capital expenditures.
This is particularly praiseworthy as it enhances the proper and meticulous monitoring and evaluation of Budget performance and prevents wasteful spending and improper execution of government programs and projects.
Speaking with newsmen after the Tuesday plenary, the Speaker Oyo House of Assembly, Rt. Hon. Adebo Ogundoyin notes that the recurrent and capital expenditure are so close because the State desire more infrastructural development in 2021.
He said, “We pledged our renewed commitment to thoroughly scrutinize the bill and give it accelerated passage, when it was brought to us by the executive and we have done just that.
“We often stop at this. We will always ensure and promote budget performance through our constitutional oversight functions, because we cannot afford disappointing the good people of Oyo State”.
Insideoyo.com recalls that the budget was tagged: “Budget of Continued Consolidation,” Governor Seyi Makinde.
According to Makinde, the budget was to ensure that the allocation to the education sector is also well above the recommendation of the United Nations Educational, Scientific and Cultural Organisation (UNESCO).
