The proposed spending levels for the next fiscal year in Oyo State is targeted towards growth of the state and opportunities for all residents of Oyo State.
2022 budget of N294.5 billion budget represents an 18.3 per cent reduction from the amended 2021 budget. This prioritize growth in the State that will meet a series of objectives from employment creation, increased investment in human capital development, i.e. education and healthcare, deployment of functional technology in public services, amongst others. It is a thing of joy to note that the funds for the 2022 budget shall be sourced from internally generated revenue, statutory allocations, and capital receipts.
Oyo State government budget which is a financial document comprising revenue and expenses over a year, that the performance of 2021 budget is 60% is a proof that the roadmap for accelerated development is being ethced in gold. Percentage of 32.83 of the total budget which is the highest allocation of Ninety-Six Billion, Six Hundred and Eighty-Six Million, Five Hundred and Thirty-Four Thousand, Nine Hundred and Eighty-Seven Naira (N96,686,534,987.00) on Infrastructure will open more way for major development in the state.
The estimation of revenue and expenses over a specified future period of time which will be utilized by the state government will ensure standard growth on education with Fifty-Four Billion, One Hundred and Sixteen Million, Seven Hundred which is over 20% of the total budget, the Healthcare delivery in the state will move higher again as Seventeen Billion, Four Hundred and Five Million, Seven Hundred and Forty-One Thousand, Seven Hundred and Ninety-Two Naira (N17,405,741,792.00) which is 5.9% of the total budget.
Agribusiness in Oyo State has been one of the ways the state government has been adding values to the life of Youths as well as improving food production in the state, the allocation of 3.84% of the budget which is Three Hundred and Nineteen Million, Two Hundred and Eighty-Nine Thousand, Seven Hundred and Thirty-Seven Naira (N11,319,289,737.00) this will maximize profit while sustainably satisfying the needs of consumers for products related to natural resources such as farms, food, forestry, fisheries, fuel, and fiber.
Aside from earmarking resources, 2022 budget will also aid in achieving setting goals, measuring outcomes, and planning for contingencies. The year 2022 budget in Oyo State will further ensure proper allocation of the resources across the state, bringing down the inequalities in terms of earning and wealth, it will also pave way for economic stability, it is an avenue for managing public enterprises effectively, major projects from government through it will contribute to economic growth and it will address major development across the seven zones in the state.
It is expected that the state government will harness the huge revenue-generating opportunities in the State particularly in the Agribusiness, housing estate and transportation sectors while also leveraging data to uncover available opportunities.
Governor Seyi Makinde 's leadership is about nurturing and enhancing the capacity building for the state. This budget is targeted towards growth with improved focus based on facts and with the performance and progress of the budget, opportunities will be created for the good people of Oyo State.
Bashorun Saintabey writes from Àgbókojó in Ìbàdàn.
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