Gov Makinde Presents N434.2bn Budget For 2024

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*Says no plans to increase tax, education gets highest share

By; BAYO AKAMO, Ibadan 


Oyo State Governor, Engineer Seyi Makinde on Tuesday, presented a budget proposal of N434, 221, 765, 938.79 to the  state House of Assembly in Ibadan for the 2024 fiscal year.
The governor while presenting the budget christened, “Budget of Economic Recovery.”, declared that the figure is made up of a capital expenditure of N222,337, 320, 199. 85 and a recurrent expenditure of N211, 884, 445, 728.95.
Governor Makinde said in the 2024 budget proposal, the capital expenditure is 2.4 per cent higher than the recurrent expenditure and that the budget is estimating an increased Internally Generated Revenue of N72 billion with an average of N6 billion monthly.
According to the governor, in the 2024 budget proposal, Education will get the highest share of the budget N90, 664, 994, 252 (20.88 percent)..
He stressed that education is to be followed by infrastructure with N74, 316, 325, 706 (17.11 percent); health has N40, 998, 197, 758.30 (9.44 percent) while Agriculture had N15, 848, 707, 310.80 (3.65 percent)
The governor maintained further that Oyo State Government will continue to use technology to block loopholes in the state as done in previous years, and that the state  government has no plan of increasing tax.
He however, assured that the budget will cover projects, policies and actions which when implemented will cushion the effect t of the hardship the people are facing as a result of fuel subsidy removal.
The 2024 budget proposal presentation was witnessed by top government functionaries, traditional rulers, political office holders , notable politicians from across the state as well as other supporters of the Gov Seyi Makinde administration

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