Oyo State Governor, Engr Seyi Makinde, on Monday, signed the 2020 appropriation bill into law, the first budget under the PDP-led government after the 2019 general elections.
The signing ceremony held at Executive chamber, Governor’s Office Secretariat, Ibadan.
The governor was flocked by Commissioner for Budget and Planning, Hon. Adeniyi Farinto, deputy governor, Engr Rauf Olaniyan; Speaker Oyo State House of Assembly, Hon Debo Ogundoyin; Secretary to the State Government, Mrs Olubamiwo Adeosun and Commissioner for Finance, Mr Akiola Ojo held at Executive chamber, Governor’s Office Secretariat, Ibadan.
Last month, Governor Makinde presented a N208.8 billion Appropriation Bill for the 2020 fiscal year to the State House of Assembly.
The Oyo House of Assembly, jerked it up to the sum of N213,788,033,002.97, an increase of about N5 billion.
As presented by Chairman, House Committee on Public Accounts, Finance and Appropriation, Honourable Kehinde Olatunde, at plenary, the budget is composed of a recurrent expenditure of N110.427,855,990 billion and capital expenditure of N103.360,177,083.97 billion.
Presenting the report, Olatunde said the budget will be better implemented if the board of internal revenue blocks leakages in collection of taxes, incorporates the informal sector and automates tax collection.
As drafted by the executive, the approved budget sees the highest sums allocated to public infrastructure and public works, education, health and agriculture.