Ibadan – Governor Seyi Makinde of Oyo State on Thursday presented the state’s budget estimate of N310 billion to the house of assembly.
Tagged โBudget of Sustainable Development” it comprised capital expenditure of N154.3 billion and N155 billion as recurrent expenditure.
Makinde said his administration had in the last three and half years moved the state forward from poverty to prosperity.
According to him, the budget is a reflection of steady growth in terms of performance from previous budgets, which is a sharp movement from accelerated development to sustainable development.
Further breakdown of the budget estimate shows that N83billion is anticipated as the state’s Internally Generated Revenue (IGR) in 2033.
In the budget, N85billion is earmarked for infrastructural development while education takes N58.2 billion, representing 18.8 per cent of the total budget.
Agriculture got N11.1 billion representing 6.31 per cent of the budget while N36billion is earmarked for healthcare delivery.
Makinde said the figure represents an 100 per cent increase from last yearโs budget, due to concessionary loan from the French government on moratorium of 10 years.
He added that the French government has also assured that the concessionary may be converted to grant if certain conditions are met.(vitalnewsngr.com)
