The Oyo State Governor, Engr. Seyi Makinde has approved the promotion of all civil and public servants whose promotions were due in 2022, as he also prepare to present 2023 supplementary budget of the House of Assembly
Penpushing reports that the Commissioner for Information and Orientation, Prince Dotun Oyelade made this known at a press conference on Tuesday, at the 7th Executive council meeting of Omituntun 2.0
The Commissioner said the development is consistent with government policy on workers’ welfare in the past 4 years, and recalled that the Seyi Makinde-led administration conducted the 2017-2021 promotion exercises.
Penpushing further reports corroborating Oyelade’s statement, the Commissioner for Budget and Economic Planning, Prof. Musibau Babatunde said state executive has approved the realignment of the 2023 supplementary budget, to be presented to the Oyo State House of Assembly for approval.
The commissioner said the decision was necessitated by the twin economic policy of subsidy removal and the unification of exchange rate has led to some shifts in macro-economic fundamentals in the state, in respect to inflation, exchange and interest rates.
Penpushing also reports that Babatunde said the Oyo State Government took into decision certain projects that are going on, overridden by costs, adding that requests by MDAs on the need to situate their current budget performance in the context of the shift in macroeconomic fundamentals.
The commissioner stated that the increment in the 2023 budget size is from N310,432,500,000.00 to the sum of N352,382,500,000.00), explaining that idle funds in some MDAs have been realigned in line with the current economic realities.
Penpushing reports that he said 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 Medium Term Expenditure Framework (2024-2026) on which the 2024 budget will be premised has been approved by the executive stating that the approved figure for this is N424,410,611,938.00.
Penpushing further reports that he explained that this is an increase of the sum of N69,237,658,025.00 which represents 19.49% over the 2023 pre-empted figure of N355,172,953,913.00
The Commissioner added that the current realigned budget of N352,382,500,000.00 mirrors the Oyo State Government’s projection perfectly, for year 2023.
Penpushing also reports that Babatunde said it is expected that the Medium Term Expenditure Framework to be a good guide for the fiscal balance of the year 2024 budget”
The commissioner added that the Executive Council meeting approved implementation of the Oyo State Social Protection Document, developed in conjunction with UNICEF.
Penpushing reports that he said 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.
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