The Oyo State House of Assembly has today passed the 2023 Appropriation bill into law.
The third reading which was read today at the Plenary by the Chairman House Committee on Appropriation, Hon. Mustapha Akeem Olawale took a careful consideration of the bill ‘clause by clause’ by the lawmakers.
Recall, Oyo State Governor, Engineer Seyi Makinde had on Thursday Nov 3, 2022 presented the 2023 Appropriation Bill to the state House of Assembly.
Makinde who stood before the lawmakers presented a sum of Three hundred and Ten Billion Naira (N310bn). During the presentation, Makinde said, the 2023 appropriation bill tagged “Budget of Sustainable Development” targets 83 billion Naira as internally generated revenue.
The lawmakers while deliberating on the proposed 2023 budget at the House today proposed certain amendment and concluded that the sum of One Hundred and Fifty-Four Billion, Three Hundred and Forty-Eight Million, Eight Hundred and Sixty-Six Thousand Naira, Nine Hundred and Sixty-Five Naira be changed and amended to One Hundred and Fifty-Four Billion, Seven Hundred and Fifty-Five Million, Three Hundred and Sixty-Six Thousand Naira, Nine Hundred and Sixty-Five Naira as finally amended for capital expenditure.
The House of Assembly in its own budget had its proposed capital expenditure earlier at Two Billion, Ninety Four Million, Nine Hundred and Three (N2,094,903,040) Thousand, Forty Naira but later amended and replaced with the sum of Two Billion, Five Hundred and One Million, Four Hundred and Three Thousand, Forty Naira (N2,501,403,040)
The recurrent expenditure remains unchanged and stands at One Hundred and Fifty-Five Billion, Six Hundred and Seventy-Seven Million, One Hundred and Thirty-Three Thousand Naira Only.
The 2023 appropriation bill which was jerked up by the lawmakers by Four Hundred and Six Million, Five Hundred Thousand Naira (N406,500,000) was finally passed into law after thorough deliberation by the whole House.
The Speaker of the Oyo State House of Assembly, Rt. Hon. Debo Ogundoyin moved for the motion to adopt the appropriation bill and be read for the third time. The lawmakers unanimously voted for the passage and the 2023 appropriation bill passed into law.