Governor Seyi Makinde of Oyo State has sought the state House of Assembly to approve a N50billion increase in the approved 2021 budget.
The supplementary appropriation bill 2021, which passed through the first and second reading stages is to fund three projects: Ibadan Circular Road, Iseyin -Ogbomoso Road and Ibadan Airport Improvement.
As contained in the letter from Makinde, N25billion is for Ibadan Circu lar Road, N15billion is to fund the Iseyin-Ogbomoso Road while and Ibadan Airport Improvement will cost N10billion.
As contained in the letter read at Tuesday evening’s plenary, the N50billion will be provided by the Central Bank of Nigeria under the Differentiated Cash Reserves Requirements of which N100billion was approved by the House of Assembly.
Upon approval of the supplementary appropriation bill, the 2021 budget will be jacked up from N268,770,964.860 to N318,770,964.860.
Makinde said that the N50billion supplementary budget is to cater for the three major projects not captured in the approved 2021 budget.
The bill was subsequently committed to an Adhoc committee headed by Honourable Akeem Mustapha.
The accompanying supplementary finance bill 2021 also passed through the second stage and forwarded to the same committee headed by Honourable Mustapha.
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