Engineer Seyi Makinde, the Governor of Oyo State has returned 100 percent subvention to all state owned tertiary institutions as promised during his electioneering campaign.
This is contained in the 2019 Review Appropriation Bill of N182,389, 434, 405.52 passed into law by the state House of Assembly.
The breakdown of the 2019 reviewed Appropriation is as follow:
For the recurrent expenditure, the state assembly jacked up a sum of N94,250,021,702.03 as proposed by the executive to N98,769,034,202.03, while the capital expenditure was increased from N76,749,978,297.97 to N83,620,400,203.49 for the services of Oyo State in the year ending December 31, 2019.
The passage of the budget was in line with the resolution of the House on Thursday, August 29, 2019, the sub-Committees of Public Accounts, Finance and Appropriation attended to various ministries, department and Agencies as well as Institutions of government and deliberated in their various 2019 reviewed estimates.
While presenting the reports of the Committees, the Chairman, Hon. Olatunde Kehinde, representing Akinyele State Constituency II, commended the governor, Engr Seyi Makinde for returning to tertiary institutions owned by the state, a full payment of 100 percent subvention to fulfill payment of their Staff salary and other entitlements.
He urged the governor to pay attention to the implementation of the approved 2019 capital expenditure of the ministries, departments and agencies (MDA’s) to facilitate good governance in the State.
Hon. Kehinde also appealed to the executive arm of government to provide necessary finances and logistic support to all revenue generating ministries, departments and agencies to facilitate and improve their revenue generation to the coffers of the state government.
It will be recalled that a sum of over two hundred and eighty-five billion naira has been approved for the 2019 fiscal year by the immediate past governor, Senator Abiola Ajimobi.
Governor Seyi Makinde, having realized that the inherited budget does not represent the direction of his administration, presented before the House, an estimate budget of N171, 000,000,000 to meet up with his administration’s objectives.
Packaged by Kunle Gazali
