Governor of Oyo State, Seyi Makinde, on Wednesday signed the 2022 appropriation law.
The 2022 appropriation totalled N294.7 billion.
Makinde while speaking, said his administration will continue to make the budgetary process in the state open and transparent.
The governor, who christened the document ‘Budget of Growth and Opportunities,’ said: “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.”