The Oyo State House of Assembly has received supplementary budget of N50 billion from state Governor, Engr Seyi Makinde.
The governor sought the consideration and approval of the state’s Assembly of the budget which is meant to cater for three projects.
The request was contained in a letter sent to the House of Assembly on Tuesday by the Governor and read at plenary by the Speaker, Hon Adebo Ogundoyin.
According to the letter, the Governor said that the N50 billion supplementary budget was to cater for three major projects not captured in the approved 2021 budget.
The three projects, according to Governor Makinde include Ibadan Circular Road which takes the largest sum of Twenty-Five billion naira (#25,000,000,000,00), Iseyin-Ogbomoso Road which takes Fifteen billion naira (#15,000,000,000,00) and Ibadan Airport Improvement which has the lowest sum of Ten billion naira (#10,000,000,000,00).
“The N50 billion will be provided by the Central Bank of Nigeria under the Differentiated Cash Reserves Requirements, DCRR of which N100 billion was approved by the House of Assembly.
“With this development, the 2021 budget will increase from two hundred and Sixty-eight billion, seven hundred and seventy-seven million, nine hundred and sixty-four thousand, eight hundred and sixty naira only (N268,770,964,860,00) to the sum of three hundred and eighteen billion, seven hundred and seventy million, nine hundred and sixty-four thousand, eight hundred and sixty naira only (N318,770,964,860).
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