Gov Makinde signs N268.8bn 2021 budget into law

Governor Seyi Makinde has signed the Oyo state 2021 budget of N268.8 billion into law, saying that it will consolidate his administration’s infrastructure initiatives.

Signing the budget on Monday at the Executive Council Chamber of the Governor’s Office in Ibadan, the governor disclosed  that real implementation of the budget would commence in earnest, as the state is targeting at least 70 per cent implementation.

He pointed out that there is a lot to look forward to in terms of dividends of democracy by the people of the state in 2021 as the present administration in the state is committed to complete many of its infrastructure works in the New Year.

Commending members of the Oyo State House of Assembly for approving the 2021 budget in a timely manner, Gov Makinde emphasized that the synergy between all the arms of government in the state has made the governance process easier for everyone.

Dispelling the insinuations that the House of Assembly padded the budget and that the Executive rejected it and forced a revision, the governor described the rumour as “simply untrue”, saying, “it is certainly not Uhuru, but we will continue to do our best to make things work in our dear state.”

” It is a budget of continued consolidation, so we continue to ask for your support as we undertake various projects this coming fiscal year. Today, we are signing into law our Budget of Continued Consolidation. This completes the first phase of the process for the 2021 fiscal year budgeting. First, we got the good people of Oyo State involved in the budgeting process through the town hall meetings, then we prepared the budget and passed it on-to the state’s House of Assembly for approval. After this signing, the real work of implementation begins.” he said

Gov Makinde stessed that the 2020 budget fell short of the 70 per cent target but recorded a performance that was a little above average at 50.32 per cent due to the impact of the COVID-19 pandemic and the economic meltdown occasioned by the fall in oil prices.

“We met a lot of our goals because we used the Alternative Project Funding Approach (APFA), and the Contractor’s Project Financing Scheme to finance many projects. We also made use of targeted loans for project financing. Of course, the reward for hard work is more work. So, for the 2021 fiscal year, we will continue to be innovative and creative in our approach to financing.”

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