Makinde presents N434bn budget, prioritises education, infrastructure

The Oyo State governor, Seyi Makinde, Tuesday presented the N434.2 billion budget estimates for the 2024 fiscal year to the state’s House of Assembly for approval.

The fiscal document christened “Economic Recovery” has N222.3bn as capital expenditure and N211.8bn as recurrent expenditure.

These figures, according to Makinde, reflect a slight difference of 2.4 per cent increase in capital expenditure as against recurrent expenditure.

Education got the lion’s share of N90.6bn (20 per cent) while N74.3b is allocated to infrastructure (17.11 per cent).

The breakdown further showed that the health sector took N40.9bn (9.4 per cent) and agriculture N15bn (3.65 per cent).

The sum of N72bn is proposed as internally generated revenue.

The governor said effort would be made to expand the state’s tax net.