By Richard Thomas, Ibadan
The Oyo State Governor, Engineer Seyi Makinde will today Monday sign the 2020 Appropriation Bill into law.
Also, the inauguration of Local Governments/LCDAs Caretaker Chairmen will take place today in Ibadan, the state capital.
Governor Makinde had last month November, presented a N208.8 billion Appropriation Bill for the 2020 fiscal year to the State House of Assembly.
The 2020 budget is N77 billion lower than the N285.2 billion 2019 budget presented in 2018 by his predecessor, Abiola Ajimobi.
The N208,802,972,878 billion total budget proposal has N100,142,690,046 earmarked for capital expenditure and representing 47.9 per cent of the total budget estimate, which equates to an increase of 20 per cent when compared to the 2019 budget.
During the budget presentation, the governor had said: “The importance of this increase should not be lost on us. Increased allocation to capital projects directly contributes to a more buoyant economy and sustainable development.”