Education Gets Highest Share As Makinde Presents N434.2 Billion 2024 Budget To Oyo Assembly

The 2024 budget presented to the Oyo State House of Assembly on Tuesday by Governor Seyi Makinde, showed the incumbent government’s keen interest in improving education in the state, Naija News reports.

Yesterday, Makinde presented a budget of over N434.2 billion to the state House of Assembly for the 2024 fiscal year, with education outlined to gulp N90,664,994,252, a 20.88 per cent of the overall budget.

The budget tagged “Budget of Economic Recovery” is split into two: a capital expenditure of N222,337,320,199.85 and a recurrent expenditure of N211,884,445,728.95.

Also, infrastructure got a share of N74,316,325,706 (17.11 per cent); health has N40,998,197,758.30 (9.44 per cent) and agriculture got N15,848,707,310.80 (3.65 per cent) of the Oyo State 2024 budget.

Makinde further stated that the budget projected a rise in Internally Generated Revenue to N72 billion, averaging N6 billion per month.

“The capital expenditure is 2.4 per cent higher than the recurrent expenditure. The government will continue to use technology to block loopholes as done in the previous years. The budget will cover projects, policies and actions which, when implemented, will cushion the effect of the hardship the people are facing as a result of fuel subsidy removal,” the governor noted in his presentation.

In his response, Speaker of the House of Assembly, Rt. Hon. Adebo Ogundoyin said the state legislature is committed to the execution of the budget.

He assured the governor that the budget would be passed quickly. He urged all departments, agencies and ministries involved in the budget implementation process to step up their efforts to deliver outstanding results.

He said, “One of our key duties is to oversee the implementation of the 2024 budget. Parliamentary oversight is a crucial pillar for creating credibility in budgeting and in holding the government accountable.

“The Budget of Economic Recovery, which has just been presented, was packaged to facilitate the completion of all ongoing projects and take care of other social services.

“May I again commend this administration for not concentrating the entire project in the state capital alone but touching other towns in the spirit of togetherness.”

The Speaker also urged the governor to fast-track the completion of the Ido-Eruwa road and other ongoing road projects across the state to bring more dividends of democracy to the people.