The Oyo State House of Assembly has passed the sum of N294,704,585,356.94 (two hundred and ninety-four billion, seven hundred and four million, five hundred and eighty-five thousand, three hundred and fifty-six naira and ninety four Kobo) as the 2022 Appropriation Bill into law.
This followed the third reading of the Oyo State Appropriation and Finance Bill 2020 at plenary presided over by the Speaker, Hon. Adebo Ogundoyin on Tuesday.
According to the reports presented by the Chairman, House Committee on Public Accounts, Finance and Appropriation, Hon. Akeem Mustapha, the sum of N139,526,448,385.94 (one hundred and thirty-nine billion, five hundred and twenty-six million, four hundred and forty-eight thousand, three hundred and eighty-five and ninety-four kobo) was approved for recurrent expenditure while N155,178,136,971.00 (one hundred and fifty-five billion, one hundred and seventy-eight million, one hundred and thirty-six thousand, nine hundred and seventy-one naira was approved for capital expenditure.
The state’ governor, Engr. Seyi Makinde had on 29 September, 2021 presented a budget of N294.5 billion to the State House of Assembly for the 2022 fiscal year, indicating that the budget passed by the House of Assembly was jacked up by over N188 million naira.
The Speaker of the state’s House of Assembly, Hon. Adebo Ogundoyin expressed that the lawmakers make frantic effort in ensuring that the budget review was done in line with the reality of the state revenue base.
Hon. Ogundoyin assured members of the public that the state’s legislative arm of government should be held responsible should the budget not be used for what it is supposed to, which is for the growth and development of the state.
