By Adeyinka Adeniran
The supplementary budget presented to the Oyo State House of Assembly by Governor Seyi Makinde scaled second reading Thursday.
The bill for supplementary budget revision and realignment also passed through second reading during the plenary session presided over by the Speaker, Oyo State House of Assembly, Hon. Adebo Ogundoyin.
A total of N79.3billion is the total amount proposed as supplementary budget
The 2024 budget will now increase from N438,447,878,548.39 to N517,784,878,548,39) for both recurrent and capital expenditures.
The total proposed additional expenditure is N147,067,000.00.
From the figure, the share of recurrent expenditure is N50,327,000,000.00 representing 34.22 percent while the share of capital expenditure is N96,740,000,000.00 representing 65.78 percent of the proposed figure.
The supplementary budget is part of efforts of Governor Seyi Makinde to address economic challenges and ensure effective implementation of critical key projects across the state, and the payment of approved minimum wage for State Civil/Public service.
The House while commending Governor Seyi Makinde said it was imperative to approve the supplementary budget to enable the present administration to execute its projects and programmes for the year under review.
The two bills were later committed to the House Committee on Finance and Appropriation for further scrutiny.