The Oyo State House of Assembly on Thursday, March 1, passed the 2018 Appropriation Bill of N271.57 billion.
The state’s 2018 budget was passed after the adoption of reports and recommendations of the House Committee on Public Accounts, Finance and Appropriation, led by Mrs Bolanle Agbaje.
The News Agency of Nigeria (NAN) reports that the Assembly, presided over by Speaker Michael Adeyemo, consented to the bill.
It was also gathered that the Assembly passed the bill after a clause-by-clause considerations and amendment proposed to the initial N267 billion presented by Governor Abiola Ajimobi on December 14.
Ajimobi christened the bill a Budget of Stabilisation.
The Assembly approved N119.631 billion as recurrent expenditure and N149.941 billion as capital expenditure.
The Speaker hailed the committee for a thorough scrutiny of the budget, even as he charged the executive to ensure a quick assent to the bill.
Adeyemo urged it to work in line with findings of the Assembly to enable it achieve a good budget performance.