The Executive Governor of Oyo State, Engr. Seyi Makinde has today presented the budget tagged “sustainable development” to the Oyo State House of Assembly.
The presentation was done by the executive governor at the ongoing Plenary session.
The majority leader, Hon. Sanjo Adedoyin while introducing the executive governor, highlighted some of the past achievements of the governor in the State which included improvement in internally generated revenue, revamp of the economy and infrastructural development.
Gov. Makinde while speaking on the 2023 budget was quoted as saying “three years ago when we came with our budget, we came with budget that would aide accelerated growth of the economy. In 2020, we budgeted Two Hundred And Eight Billion Naira (N208bn) for the state and we have moved from accelerated growth to sustainable development.
“These are not just figure, in reality, we have moved our people from poverty to prosperity. In education, we have consistently maintained 18-20 % allocation. We have also grown Internally Generated Revenue by over 90% without raising tax on anybody and we did this through private partnership as we focus on comparative advantage in agribusiness to grow our economy.
“Today, through infrastructural development, we can say with pride that our dear state is interconnected through road construction and rehabilitation”, said Makinde.
He highlighted his achievements in sports and youth development, he claimed that the state has brought the lost glory of over 28 years back as a result of the recent international football match that was played at Adamasingba Stadium.
He talked about the health sector, where he claimed to have invested heavily in primary healthcare and installation of health equipment in Ladoke Akintola University Teaching Hospital and other state hospitals.
He further hinted on the importance of ‘light-up-Oyo’ claiming the project has contributed to the drastic reduction in crime rate in the State.
“Time would fail me if I should continue to highlight some of our achievements but I can boldly say we have raised internally generated revenue from N1.7bn in 2018 to N3.3bn. Our budget revenue performance stands at 59.7% while expenditure performance remains at 54.8%.
“Today, we are presenting Three Hundred And Ten Billion Naira (N310bn) Budget of Sustainable Development to meet the needs of the good people of Oyo State without compromising the best standards”.
He premised the details of the 2023 budget on the internally generated revenue which stands at N83.5bn while the statutory allocation stands at N50bn, with VAT generated to be N60bn.
N154.348bn has been budgeted for capital expenditure, accounting for 49.7% of the total budget, while recurrent expenditure stands at N155.651bn making 51.3% of the total budget.
Education to receive N58.213bn being 18% of the 15-20% of the UNESCO recommendation, health care gets 36bn while agricultural sector to receive N11.198bn.
The Speaker of the House of Assembly, Rt. Hon. Debo Ogundoyin while speaking commended the governor for the laudable projects he has embarked on in Oyo State. He therefore used the ocassion to implore him to do more for the good people of Oyo State.