Oyo State Governor, Mr Seyi Makinde, has signed the 2022 state appropriation bill of N294.7billion into law.
Makinde signed the budget, which is tagged ‘Budget of Growth and Opportunity’ at the Executive Council Chambers of the governor’s office, State Secretariat, Agodi in Ibadan.
In his remarks at the occasion, the governor said the budget document represented the wishes of the good people of the state.
He recalled that the budget process started with town hall meetings in all the geo-political zones in the state, to get the input of stakeholders before deciding on how to appropriate the spending.
Speaking on the previous budget performances, the governor said that the 2020 performance was put at over 50 per cent while that of 2021 was over 60 per cent.
He said his government was targeting 70 to 75 per cent budget performance in the 2022.
He, however, noted that budget performance depends on revenue, “if you don’t have the money there’s nothing to spend.”
He said his government had significantly increased the IGR of the state from where it was in the past, without imposing taxes on the people.
The governor said his administration has its eyes set on raising the state IGR to N5billion -N7billion per month.
He assured that more development projects would be executed in 2022 in addition to completion of some of the ongoing projects.
He further stated that his government would continue to ensure that the budget achieved its projected performance.
He thanked the state Assembly legislators, especially the Speaker, Debo Ogundoyin, for their efforts toward speedy passage of the budget proposal.
Makinde had presented the budget proposal to the state House of Assembly on Sept. 29 which passed it on Dec. 14.
The deputy governor, Alhaji Rauf Olaniyan, Speaker, State of Assembly, Mr Debo Ogundoyin, House Majority Leader, Mr Sayo Adedoyin and chairman, House Committee on Appropriation, Mr Mustapha Olawale, were among the state functionaries that witnessed the signing of the budget.