By Emmanuel Adeleke
Oyo State Governor, Engr. Seyi Makinde, on Tuesday, presented a budget estimates of N434.2 billion to House of Assembly for approval.
Presenting the budget, christened, ‘Budget of Economic Recovery,’ the governor said the capital expenditure is 2.4% higher than the recurrent expenditure.
According to Makinde, the budget is made up of N222.3 billion for capital expenditure, and N211.8 billion for recurrent expenditure.
A breakdown of the budget indicated that education gets the highest share, with N90.6 billion or 20.8%, followed by Infrastructure which gets N74.3 billion or 17.1%.
Makinde revealed that the increased funding in education aims to safeguard schools and the future of students in the state through innovative measures.
The health sector takes the third position with N40. 9 billion, which is 9.4% while Agriculture takes ₦15. 8 billion or 3.6% of the total budget proposal.
The governor promised to enhance the budget performance by leveraging on technology to close loopholes, emphasising the focused attention on the mining sector to boost the state’s Internally Generated Revenue.