Oyo state Governor, Seyi Makinde has presented a 310billion naira 2023 budget tagged ‘budget of sustainable development’ to the State Assembly.
The Governor said, the budget is a reflection of steady growth in terms of performance from previous budgets which is a sharp movement from accelerated development to sustainable development.
Governor Seyi Makinde while presenting the budget on the floor of the house during a plenary said the 2023 budget is premised on sustainable development agenda.
According to the 2023 budget, 83billion is the proposed Internally Generated Revenue (IGR) while capital expenditure stands at N154,348,866,965.
155 billion naira is earmarked for recurrent expenditure while 85 billion is budgeted for infrastructural development.
Education received N58.2 billion representing 18.8% of the total budget while Agric got 11.1 billion representing 6.31 percent of the total budget.
The sum of N36 billion is earmarked for Healthcare. Makinde said the figure represents an increase from last budget by hundred percent due to concessionary loan from the French government on moratorium of ten years.
Governor Makinde added that the French government has also assured that the concessionary maybe converted to grant if certain conditions are met.
