Oyo State Assembly passes 2017 budget of N208.6bn

Ibadan, March 24, 2017 (TNE): The Oyo State House of Assembly has passed the 2017 Appropriation Bill of  N208. 65  billion.
The bill has a recurrent expenditure of N127.574 billion and N81.079 billion for capital expenditure.
Gov. Abiola Ajimobi had on Dec. 29, 2016, presented a budget proposal of N207.67 billion to the lawmakers.
Ajimobi proposed a recurrent expenditure of N126.87 billion and a capital expenditure of N80.80 billion.
The house had  passed the bill after considering the report and recommendations of the House Committee on Public Account, Finance and Appropriation headed by Mrs Bola Agbaje (APC- Ibadan North I).
Mr Azeez Adeleke (APC-Iseyin/Itesiwaju), who presented the report on behalf  of Agbaje,  said  budget performance in the previous fiscal year was below average due to paucity of funds  caused by the recession.
In order to achieve a more realistic budget this year, he said  the state must  adopt  aggressive methods to increase Internally Generated Revenue (IGR).
The lawmaker said such would enable the state to adequately finance the basic needs of the government  and boost the  socio-economic development of the state.
“For greater commitment and enhanced productivity, especially to  boost IGR, government is advised to release 10 percent of revenue generated by MDAs for speedy and smooth operation.
“The governor is also urged to constitute all statutory boards and commissions considering their importance to service matters and delivery,” he said.
The Speaker of the House, Mr Michael Adeyemo (APC-Ibarapa-East),  directed the Clerk of the House, Mr Paul Bankole,  to send a clean copy of the bill to Ajimobi for his assent.(TNE)
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