Budget: Oyo House Okays N159.6 Bn

The Oyo State House of Assembly on Tuesday in Ibadan approved the sum of? N159.6 billion as the budget for 2013 fiscal year.

The News Agency of Nigeria (NAN) reports that the amount had? a variation of more than N7 billion from the original budget of? N152.1 billion? brought before the House in January.

The budget was passed following the third reading of the bill after necessary amendments were made by the Committee of the Whole House at plenary.

Addressing newsmen after the sitting of the House, Hon. Segun Olaleye (ACN- Ibadan North II), said? the variation was approved? to make adequate funds available for the execution of? projects? in critical sectors .

Olaleye, who is the Chairman of the House Committee on Public Account, Finance and Appropriation, said sectors like Health, Education and Tourism were given additional? funds.

He said the sectors? were given additional? funds? because of their importance to the development of the state.

The lawmaker explained that the additional funds? approved for the education sector would enable? government to ensure? the smooth take-off of the State Technical University.

He said the Ministry of Health would utilise its own variation to meet up with the demands of the new Health Insurance Scheme put in place for all workers in the state.

The chairman also said that the tourism sector got additional funds? to improve the level of infrastructure in all the tourists sites across the state.

?The sector, he added,? was expected to emerge? a major revenue earner for the state in the year.

The new budget had? N85,01 billion as recurrent expenditure while? N74.6 billion? was approved as capital vote.

Earlier, Speaker Monsurat Sumonu, who presided at the plenary, had urged all Ministries Departments and Agencies? to ensure full implementation of the budget.

She said that the adequate implementation of the budget was the only way to impact on the lives of the people.

Sunmonu also said that the lawmakers would monitor the implementation of the budget to ensure that it had a positive impact on? the lives of the people.