Oyo State Governor, Seyi Makinde, has said that the initial N285 billion 2019 budget presented to the state house of assembly was unrealistic.
Makinde in a tweet on via his verified Twitter account on Wednesday said that he revised the budget downward to N182B adding that he signed a revised budget of N182 billion.
“This afternoon, I signed the Oyo State Appropriation Review and Finance Bill, 2019, a revised budget for the state, into law.
“In view of the current financial state of our state, the budget of N285B approved by the previous administration was unrealistic
“We’ve revised the budget downward to N182B; this includes an upward review of the budget for education to 10%.
Our admin will work towards improving the economy of the state so that subsequent budgets match our financial capabilities and budget implementation is above 70%” he said.
We gathers that the reviewed budget allocated N98 billion for recurrent expenditure while N83.62 billion was allocated for the capital expenditure, meant for the services of Oyo state in the year ending Dec. 31, 2019.
The N285 billion budget approved for 2019 fiscal year by the immediate past governor of the state, Abiola Ajimobi, was termed a budget of transition.
The budget was meant to consolidate in the gains of Ajimobi’s administration and prepare for the smooth take-off of Makinde’s administration.
The budget review was in pursuant to the resolution of the house on Thursday, August 29, 2019.
Makinde had on August 15 sworn in 14 commissioners cleared by the assembly.
Since his inauguration, Makinde has been the toast of Nigerians, with nearly every decision he makes pleasing the majority.