Due to the combined policy actions of eliminating the Premium Motor Spirit (PMS) subsidy and adopting a flexible exchange rate system by the federal government…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
Oyo State Governor, Seyi Makinde, has proposed an upward adjustment of the approved 2023 budget from N310,432,500.00 to N352,282,500.00.
The bill for this budget revision has undergone its first reading in the Oyo State House of Assembly.
The objective of this budget adjustment is to align with the changes in the macroeconomic environment brought about by the federal government’s dual policy measures.
These changes have impacted the operations of various ministries, departments, and agencies (MDAs) in Oyo State.
The supplementary budget is aimed at advancing the objectives outlined in the Sustainable Development Agenda 2023 to 2027 of the current administration in Oyo State. It will also facilitate the adaptability of the MDAs to the existing macroeconomic challenges in the country.”
The Speaker of the Oyo State House of Assembly, Hon. Adebo Ogundoyin, acknowledged the nationwide effects of the federal government’s dual policy measures.
