…To Present 2023 Supplementary Budget to OYHA
The governor of Oyo State, Engr. Seyi Makinde, has approved the promotion of all civil and public servants whose promotions were due in 2022.
In a media briefing on the 7th Executive Council meeting of Omituntun 2.0, the Commissioner for Information and Orientation, Prince Dotun Oyelade, said that the development is consistent with government policy on workers’ welfare in the past four years.
The Commissioner for Information and Orientation recalled that the Makinde-led administration conducted the 2017 to 2021 promotion exercises.
For 2022, the governor has given approval for the conduct of the promotion of 7, 276 civil servants.
Also speaking, the Commissioner for Budget and Economic Planning, Prof. Musbau Babatunde, said that exco approved the realignment of the 2023 supplementary budget, to be presented to the Oyo State House of Assembly, for approval.
He said that the decision was necessitated by the twin economic policy of subsidy removal and the unification of exchange rate,which has led to some shifts in macro-economic fundamentals in the state, in respect to inflation, exchange and interest rates.
The commissioner said that the Oyo State government took into decision certain projects that are going on, overridden by costs.
He added that requests by Ministries, Departments and Agencies, MDAs, on the need to situate their current budget performance in the context of the shift in macroeconomic fundamentals also contributed to the development.
Babatunde said that the increment in the 2023 budget size is from N310,432,500,000
to N352,382,500,000.00.
The commissioner also said that idle funds in some MDAs have been realigned in line with the current economic realities.
He said that the Oyo State government is currently negotiating with the Nigeria Labour Congress, NLC, and decisions taken from the meeting will be included in the realigned supplementary budget.
The commissioner said that the Medium Term Expenditure Framework 2024 to 2026, on which the 2024 budget will be premised has been approved by the exco.
The approved figure for this is N424,410,611,938.00
This is an increase of the sum of N69,237,658,025, which represents 19.49 per cent increase over the 2023 pre-empted figure of N355,172,953,913.
He said that the current realigned budget of N352,382,500,000 mirrors the Oyo State government’s projection perfectly, for year 2023.
He said, “We expect the Medium Term Expenditure Framework to be a good guide for the fiscal balance of the year 2024 budget.”
Prof. Babatunde added that the Executive Council meeting also approved the implementation of the Oyo State Social Protection Document, developed in conjunction with UNICEF.
He said that the implementation department, which will be supervised by his office, with the support of relevant agencies, will reduce the challenges of poverty incidents in the state.
