Oyo State Governor, Seyi Makinde on Tuesday presented a budget of four hundred and thirty-four point two billion naira for 2024 to the State House of Assembly for consideration and approval.
According to Governor Makinde, the budget is made up of two hundred and twenty-two point three billion naira for capital expenditure, and two hundred and eleven point eight billion naira for recurrent expenditure.
Presenting the budget named ‘the Budget of Economic Recovery’, the governor said the capital expenditure is two point four percent higher than the recurrent expenditure, adding that the 2024 budget was estimating an increased Internally Generated Revenue of seventy-two billion naira.
He promised that the 2024 budget would cover projects, policies and actions that when implemented will cushion the effect of the hardship the people are facing due to fuel subsidy removal, adding that his administration would continue to use technology to block loopholes as it has no plan to increase taxes.
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