Makinde signs 2022 appropriation into law

Governor Seyi Makinde of Oyo State has signed the 2022 appropriation law.

The 2022 appropriation totalling, N294.7 billion was signed by Makinde on Wednesday.

Makinde while speaking, maintained that the government will target 70 to 75 per cent performance for the 2022 budget.

He added that his administration will continue to make the budgetary process in the state open and transparent.

Makinde, who christened the document ‘Budget of Growth and Opportunities,’ said that with the increase in revenue, his administration will be able to fund the 2022 budget and record higher performance.

He maintained that his government was able to record an increase of over N15 billion in its Internally Generated Revenue.

Malinda, while speaking further, charged residents of the state to continue to ask questions about how his administration is spending the state’s resources.

“The total figure for our 2022 Budget of Growth and Opportunities is N294,704,535,356:94 as passed by the Oyo State House of Assembly. I must use this opportunity to thank our honourable members, especially Mr. Speaker, for the speedy passage of the budget proposal. So, today, I have just signed the Appropriation Bill into law.

“The document represents the wishes of the good people of Oyo State. We started this budget process with town hall meetings in all the geopolitical zones of our state. We got the input of stakeholders before deciding on how to appropriate our spending.

“So, we can rightly say it is our budget. As you know, it is one thing to pass a budget, it is more important to implement.

“Before we came in, the previous administration recorded about 30 per cent performance but if you check the record, you will see that our budget performance was over 50 per cent.

“In 2021, we did better at over 60 per cent, which was about double of what was obtainable in the past. So, for this 2022 fiscal year, our target is a minimum of 70 -75 per cent performance. And you know that one thing that impacts budget performance is revenue. If you don’t have the money, you have nothing to spend.”