The Oyo state governor, Engineer Seyi Makinde has signed the state #268.8 billion 2021 appropriation bill into law.
Governor Makinde assented the bill this Monday at the executive council chamber, Agodi-Secretariat, Ibadan.
While addressing top government functionaries shortly after he appended his signature on the state’s 2021 finance and appropriation bill, governor Seyi Makinde explained that the 2021 budget will accommodate more developmental projects for the state, while the budget performance was set at 70%.
The governor who noted that the budget will increase the state’s ability to respond to economic challenges maintained that his administration will do all needful to achieve the fiscal sustainability of the Budget.
It would be recalled that governor Seyi Makinde had ordered the downward review of the #273.7 Billion Budget earlier approved by the House of Assembly to #268.8 Billion due to the need to achieve a favorable budget performance.
As a result, the N273.7 billion earlier approved has since been reduced and the Budget was passed in the sum of N268.8 Billion on December 18, 2020, representing an increase of N2.2 Billion on the Budget proposal of N266.6 billion submitted by the governor on November 24, 2020.