Makinde Presents N294bn Budget To Oyo Assembly

Governor Seyi Makinde of Oyo State has presented the state House of Assembly with a budget of N294 billion.

Makinde presented the budget to the MPs in Ibadan on Wednesday.

The budget is for fiscal year 2022.

He dubbed the budget the budget of opportunity and growth.

In addition, Makinde stated that his administration will inject N156,000,136,971 into the state’s economy.

A total of N138,516,308,136 will be spent on recurring expenditures, according to the governor.

He maintained that one of the major projects that would be carried out in the year 2022 is the 110km Ibadan Circular Road.

Makinde said, “I have the honour of presenting to the House this N294,516,445,107 2022 Budget Proposal.

“As stated earlier, this is a budget of growth and opportunities. Growth, as we inject N156,000,136,971 into our economy through investments in infrastructure and ensuring that our people have higher purchasing power.

“For the first time, our proposed capital expenditure at 52.97% is more than our recurrent expenditure.

“A major project we will be carrying out in 2022 is 110km Ibadan Circular Road. This tolled road will be a major economic boost as it will create an alternate entry and exit point out of Ibadan and connect the new economic corridor and business district, we are building at Moniya.

“Our recurrent expenditure is N138,516,308,136.”