Oyo State Governor, Engineer Seyi Makinde, has signed into law the 2021 appropriation bill, on Monday, having passed third reading on the floor of the state house of assembly.
Makinde, while signing into law the Budget of Continued Consolidation at the exco chamber, Secretariat, Agodi, Ibadan, said: “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.
I mentioned during my 2021 budget presentation before the House of Assembly that the 2020 budget had an above average performance of 50.32% as at September 2020. Our aim was at least 70% but the impact of the COVID-19 pandemic and the economic meltdown occasioned by the fall in oil prices affected the budget performance.
“Having identified the reasons for this year’s performance, we are going to work harder and smarter next year to ensure that we meet our performance target of at least 70%.”