The N282 billion of Oyo state 2019 budget passed into law by the immediate past administration of former Governor Abiola Ajimobi on Tuesday reduced to N181 billion by Oyo State House of Assembly.
The Oyo State Governor, Engineer Seyi Makinde who ordered the review of the budget which started last week Thursday had earlier described the budget passed during last administration as ‘unrealistic’.
However, the assembly on Tuesday passed N182 billion into law as the new state appropriation bill for the year.
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The bill that seeks to review the appropriation bill 2019 to the tune of N182,389,434,405:52, from the consolidated revenue of Oyo state was re-evaluated from N285billion already proposed bill by the last administration.
The bill was passed into law after the committee on public accounts, finance and appropriation on the Oyo state appropriation (review) Bill, 2019, presented its report to the house.
The breakdown of N182,389,434,405,52 newly approved for the year put the recurrent expenditure at N98,769,034,202:03, while the capital expenditure now stood at N83,620,400,203:49.
While speaking, the speaker, Adebo Ogundoyin stated that the unrealistic nature of the proposed N285 billion by the last administration, the bill has to be re-evaluated to the tune of N182 billion.
A sum of N103 billion was cut-off from Ajimobi’s proposed 2019 budget before the house could arrive at the new appropriation bill for the year.
Senior Editor,
Lagos Post Online
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