Education gets the highest share of the N434.2billion 2024 budget Governor Seyi Makinde of Oyo State presented to the State House of Assembly for consideration and approval with N90.6 billion or 20.8 per cent of the budget. This was followed by Infrastructure which gets N74.3 billion or 17.1 per cent of the appropriation bill.
The health sector takes the third position with N40. 9 billion, that is 9.4 per cent and Agriculture has N15. 8 billion, that is 3.6 per cent of the total budget proposal.
On Tuesday while presenting the budget tagged ‘Budget of Economic Recovery’, Governor Makinde said that the budget is made up of N222.3 billion for capital expenditure, and N211.8 billion for recurrent expenditure. He added that the capital expenditure is 2.4 per cent higher than the recurrent expenditure.
Makinde further revealed that the 2024 budget was estimating an increased Internally Generated Revenue of N72 billion with an average of N6 billion monthly.
He promised that the 2024 budget would cover projects, policies and actions “which when implemented will cushion the effect t of the hardship the people are facing as a result of fuel subsidy removal.”
The Governor further said that his administration would continue to use technology to block loopholes, saying his government has no plan to increase taxes.
He urged the House of Assembly to see to the speedy passage of the budget proposal for the state’s economic growth and benefit of the people of Oyo State.
In his response, Speaker of the House of Assembly, ‘Debo Ogundoyin (PDP Ibarapa East) assured the governor of speedy consideration of the Appropriation Bill.
