Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin disclosed this while reading a correspondence from the executive during plenary on the floor of the House on Tuesday.
The supplementary budget scaled through first reading and was subsequently committed to the House Committee on Finance, Appropriation, Budget and Economic Planning for further scrutiny.
Oyo State is presently implementating the 2024 a budget of over N438.4 billion which was approved by the House of Assembly and subsequently assented into law by Governor Makinde.
Reading the Governor’s letter at the plenary on Tuesday, the Speaker said the supplementary budget became necessary to address emerging priorities in the context of the current economic challenges and ensure effective implementation of critical key projects across the State.
According to Governor Makinde, the supplementary budget will also take cognizance of the payment of the newly approved minimum wage for the state civil and public service.
Consequently, 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 supplementary budget featured the realignment of some Ministries, Departments and Agencies (MDAs).
These include Service Agency, Ibadan; Urban Flood Management Project, Oyo State Agribusiness Development Agency, Sustainable Development Goals, Ministry of Education, Science and Technology, Emmanuel Alayande University of Education, Oyo; First Technical University, Oke – Ogun Polytechnic, Saki and the Ministry of Health.
Others are the Oyo State Road Maintenance Agency, Water Corporation of Oyo State, the Judiciary, Ministry of Environment and Natural Resources, among others.
