Oyo State governor, Seyi Makinde has presented a budget of N294.5 billion to the State House of Assembly for the 2022 fiscal year.
While presenting the budget tagged “Budget of Growth and opportunities” on Wednesday morning, Makinde noted that the focus of his administration is to move the state forward.
Politics Nigeria understands that Oyo state’s own funds has grown.
According to Makinde in June, his administration increased the state’s purse by billions in internally generated revenue.
This newspaper reports that the Oyo state internally-generated revenue has been growing since 2015, four years before he took office, with the biggest growth between 2019 and 2020, for which the governor can take credit.
While this is a positive development, Oyo state is still heavily indebted and in 2019 two-thirds of its revenue was from the federal government.
“Within the first two years, we increased internally generated revenue by close to N15 billion,” his office had said in a statement posted on social networking service, Facebook.