Politics

Gov. Makinde signs N213bn 2020 appropriation bill into law

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Written by Maritime First

…As Lalong signs N177.3bn 2020 appropriation bill into law***

Gov. Seyi Makinde of Oyo State, on Monday, signed the N213 billion 2020 appropriation bill into law.

Makinde presented the budget to the state House of Assembly on Nov 28, while the bill was passed into law on Dec 20.

The budget, which the lawmakers increased by N4.4 billion, was signed into law at the Executive Council chambers of the governor’s office, Agodi in Ibadan.

In his remark at the occasion, the governor said that the budget was in line with his administration’s document on the roadmap for accelerated development of the state and also represented the aspirations of the people.

He observed that the upward review of the bill sent to the Assembly by N4.4 billion cut across capital expenditure and recurrent expenditure.

Makinde said he remained committed to ensuring about 70 percent implementation of the budget.

The Speaker of the Assembly, Mr Debo Ogundoyin, remarked that the increment in the budget was to enhance widespread development, particularly at the grassroots.

Also read:  Makinde lauds apex court verdict, promises accelerated development of Oyo State

In another development, Gov. Simon Lalong of Plateau has signed the 2020 Appropriation Bill of N177.3 billion into law.

Lalong had on Nov. 26 presented a budget estimate of N172.5 billion to the Plateau State House of Assembly for consideration and passage.

The governor said on Monday in Jos that the budget as passed by the legislature showed an increase of N4.7 billion, representing 2.6 per cent over the executive proposal submitted to the House.

“We have examined and noted that the larger part of the budget adjustment was on capital expenditure and within the Annual Budget Growth.

“We shall in implementing the budget ensure fiscal discipline, especially as we envisage your ardent commitment to oversight for the common good.

“Let me commend the Speaker, the leadership of the House and entire honourable members for giving the 2020 budget the desired expedited attention,” he said.

The governor directed the Ministry of Finance, Budget and Planning, and all Ministries, Departments and Agencies (MDAs) to ensure effective implementation of the fiscal policy.

He stressed that government would spare no effort to meeting revenue targets especially the Internally Generated Revenue (IGR) which is crucial to funding the 2020 budget.

According to him, apart from setting new targets for the state Internal Revenue Service, government has approved the appointment of a reputable revenue expert to facilitate the maximisation of internally generated revenue accruable to the state.

He expressed optimism that more money would be generated through the engagement.

“This and more we must do if we are to implement the 2020 Budget and address the deficit which hovers in the region of N32 billion.

“Like I stated while laying the budget on the floor of the House, funds will be sourced locally and internationally to close this deficit gap as the need arises.

“We are also determined to continue to enhance our capacity and track record of prudence, accountability and transparency in expending public funds,” he said.

Lalong commended the assembly for partnering with him to return the budget circle to a normal calendar period.

The Commissioner for Budget and Economic Planning, Mr Sylvester Wallangko, presented a brief of the budget before the governor’s assent.

Wallangko said that the budget was made up of N98.7 billion recurrent expenditure and N78.5 billion capital expenditure.

 

 

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Maritime First