Oyo: Makinde signs 2022 N294.7bn budget into law


….Grants Oyo Assembly’s financial autonomy

GOVERNOR Seyi Makinde of Oyo State, yesterday, signed the 2022 Budget of N294.7billion and the Bill on Financial Autonomy for the House of Assembly into law, stating that the budget represents the wishes of the people of the state.

He maintained that the government will target 70 to 75 per cent performance for the 2022 Budget, adding that his administration will continue to make the budgetary process in the state open and transparent.

Held at the Executive Chamber of the Governor’s Office, Secretariat, Ibadan, the governor noted that the signing of the financial bill into law confirmed that the state is practising the principle of separation of powers among the three arms of government.

Makinde, who christened the document ‘Budget of Growth and Opportunities,’ said: “The total figure for our 2022 Budget of Growth and Opportunities is N294,704,535,356:94 as passed by the Oyo State House of Assembly. I must use this opportunity to thank our Honourable members, especially Mr. Speaker, for the speedy passage of the budget proposal. So, today, I have just signed the Appropriation Bill into law.

 “Before we came in, the previous administration recorded about 30 per cent performance but if you check the record, you will see that our budget performance was over 50 per cent.

“In 2021, we did better at over 60 per cent, which was about double of what was obtainable in the past. So, for this 2022 fiscal year, our target is a minimum of 70 -75 per cent performance.’’

“When we came in, we met the IGR at N1.9bn per month, and within the past two and a half years, it has gone to between N3bn and N3.3bn per month. So, we looked back at the 2021 budget performance, we consolidated on the gains of the 2020 fiscal year. We completed some of the projects we started in the previous year and commenced new ones.


Leave a Reply

Your email address will not be published. Required fields are marked *