Oyo State Governor Abiola Ajimobi yesterday presented a budget estimate of N285 billion to the House of Assembly.
The economic and social sectors got 61.5 percent and 30.19 percent respectively of the total N163.47 capital expenditure of the Appropriation Bill.
The Appropriation Bill christened ‘Budget of Sustainability’ had N163.47 billion (57.36 %) as capital expenditure and N121.53 billion (42.64%) as recurrent expenditure.
Ajimobi said the government would focus more on Internally Generated Revenue(IGR) to finance the budget.
The governor said that the 2018 budget performed below expectation, saying his government was unable to meet up with the expected revenue.
He said his administration would ensure the completion of ongoing road projects, while others will be left for the incoming administration to complete.
Ajimobi said: “Oyo is a very challenging state to rule but our administration is leaving Oyo State much better than we met it. We met Oyo State a State of bricks and we are leaving it a State of Marble.”
Speaker Olagunju Ojo said the Ajimobi-led administration had put in place several people-oriented policies that restored peace and economic growth in the state.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
