By Milcah Tanimu

1. Budget Presentation:
– Governor Seyi Makinde of Oyo State has presented a budget of N434,221,765,938.79 to the House of Assembly for the 2024 fiscal year.
– The budget is tagged ‘Budget of Economic Recovery.’

2. Budget Allocation Breakdown:
– Capital expenditure constitutes N222.3 billion, accounting for 51.24% of the total budget.
– Total recurrent expenditure is N211.8 billion.

3. Sectoral Allocation:
– Education receives the largest share of the budget allocation, amounting to N90.6 billion, representing 20% of the total budget.
– Infrastructure is allocated N74.3 billion, constituting 17.11% of the 2024 appropriation.

4. Focus on Economic Recovery:
– The budget presentation emphasizes a focus on economic recovery, with significant allocations to key sectors such as education and infrastructure.
– The allocation for education underscores the importance of investing in human capital development for overall economic growth.

Governor Seyi Makinde’s proposed budget for 2024 reflects a commitment to economic recovery, with substantial investments in education and infrastructure, signaling a strategic approach to foster development in Oyo State.