Seyi Makinde, governor of Oyo state on Wednesday said he signed a revised budget of N182 billion.
The governor said the initial N285 billion 2019 budget presented to the house of assembly was unrealistic.
NAN reports that the reviewed budget allocated N98 billion for recurrent expenditure while N83.62 billion was allocated for the capital expenditure, meant for the services of Oyo state in the year ending Dec. 31, 2019.
The N285 billion budget approved for 2019 fiscal year by Abiola Ajimobi, the immediate past governor of the state, was termed a budget of transition.
The budget was meant to consolidate in the gains of Ajimobi’s administration and prepare for the smooth take-off of Makinde’s administration.
The budget review was in pursuant to the resolution of the house on Thursday, August 29, 2019.
The house committee recommended that Makinde be commended for his magnanimity, in approving the release of 100% subvention to all state-owned tertiary institutions to fulfil payment of their staff salaries and other entitlements.