Acting Governor of Oyo State, Bayo Lawal, said on Wednesday that Governor Seyi Makinde’s government has made unprecedented achievements across all sectors.
Lawal said the government had been able to maintain a lower ratio of recurring expenditure to capital expenditure, and stated that the state budget for 2022 had capital expenditure at 52.97% for the first time, ahead of recurring expenditure.
This was stated in a statement from the Chief Press Secretary to the Governor, Taiwo Adisa.
The acting governor spoke at the 2023 Budget Consultation Forum, the usual precursor to the new budget in Ibadan.
He explained that out of a total budget of N294.5 billion, the government has injected N156 billion into the economy by investing in infrastructure and ensuring that people have higher purchasing power.
According to him, the state’s recurring expenditure for fiscal year 2022 is N138 billion, which represents 47.3% of the total budget.
“As with the 2021 budget, we have used the principles of the Federation’s Fiscal Sustainability Plan and other development ambitions as our guide,” he said.
Lawal stated that the Makinde government has embarked on several capital projects that benefit the people over the past three years, and stated that the government would continue to deliver on its promise to deliver massive infrastructure projects aimed at the economy and across the state.
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