The Oyo State House of Assembly has passed into law the revised 2020 budget of the state from N213Billion to N174Billion.
The house, during its Tuesday plenary, concluded its downward review of the state’s 2020 budget and cut away N39 billion from the initial N213billion budget.
The newly approved appropriation bill is N174, 087,453, 241.46 billion total budget allocated, of which N108, 905, 099, 631.46 goes for recurrent expenditure while M65,182, 353, 610 is voted for capital expenditure for the services of Oyo state in the year ending on the 31st day of December 2020.
Also, the house observed the third reading of a bill that sought for a law to finance the reviewed Appropriation bill, 2020 to the tune of N174, 087,453, 241.46 billion only from the consolidated revenue of Oyo state in the year ending on the 31st day of December 2020.
Speaking on the revised budget, the speaker, Oyo state House of Assembly, Rt. Hon. Adebo Ogundoyin noted that the executive arm presented N169 billion as the downward review of the initial N213billion 2020 budget to the house, while the lawmakers added about N4 billion to the budget after a thorough oversight function.
Oyo Affairs correspondent reported that the house has adjourned to the 6th of August, 2020.