Oyo Assembly Slashes 2019 Budget To N182B

Published 1 week ago by: Adegbenga Ayinla
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at 12:45 PM, 4/09/2019 (1 week ago)

(1456 | Gistmaniac) Online (m)


Oyo State House of Assembly, on Tuesday, reduced the 2019 budget of N282 billion passed into law by the immediate past administration under the leadership of Senator Abiola Ajimobi to N181 billion.
The review of the budget which started last week Thursday, was at the instance of the incumbent Governor, Mr. Seyi Makinde, who described the budget earlier passed as ‘unrealistic’.
DAILY POST recalls that the Assembly had last week moved to slash the budget.
It has now reduced the budget and passed into law N182 billion as the state appropriation bill for the year.
The bill that seeks to review the appropriation bill 2019 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.
The Speaker, Adebo Ogundoyin said the bill was re-evaluated to the tune of N182 billion because the already proposed N285billion appropriation bill by the past administration was unrealistic.
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.

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