Oyo Assembly raises Budget 2023 by N432.5m, passes Bill

Oyo State House of Assembly yesterday passed the 2023 Appropriation Bill into law.

The lawmakers passed the bill after a clause-by-clause consideration of the items in the financial proposal.

As passed, the new budget is a total of N310,432, 500,000.

The passed budget is about N432.5million higher than the proposed N310billion sent to the lawmakers by Governor Seyi Makinde on November 3.

The approved budget comprises a capital expenditure of N154,755,366,965 and a recurrent expenditure of N155,677,138,337.

Prior to the approval, the House Committee on Public Accounts, Finance and Appropriation had presented its report on the state’s 2023 Appropriation Bill to the lawmakers, which was also adopted.