Governor Makinde Signs N174bn Reviewed 2020 Budget
Tunde Akinrosoye, Ibadan
The Oyo State Governor, Engr Seyi Makinde signed into law the reviewed 2020 appropriation budget.
Oyo State lawmakers on Tuesday passed the bill reviewing the budget from N213billion to N174billion.
Makinde noted that there is a substantial justification for the request made by the executive arm of government.
The streamlining of the budget size tends to achieve a realistic budgeting in the State which is one of the key advocacies of the finance and budget experts.
The reviewed budget is to accommodate the latest financial reality of the nation and the State courtesy of the COVID-19 pandemic which has led to drastic drop in oil price, national revenue and subsequently reduction in federal allocation to States and revenue generation in Oyo State.