By Richard Thomas, Ibadan
Oyo State Governor, Mr Seyi Makinde has sought the approval of the State House of Assembly for a supplementary budget of N50billion.
The request was contained in a letter sent to the House of Assembly on Tuesday by the governor and read at plenary by the Speaker, Hon Adebo Ogundoyin.
The governor said that the N50billion supplementary budget was to cater for three major projects not captured in the approved 2021 budget.
The three projects, according to Governor Makinde included Ibadan Circular Road which takes the largest sum of N25 billion, Iseyin -Ogbomoso Road which takes N15 billion and Ibadan Airport Improvement which has the lowest sum of N10 billion.
He added that the N50billion will be provided by the Central Bank of Nigeria under the Differentiated Cash Reserves Requirements (DCRR), of which N100billion was approved by the House of Assembly.
With this development, the 2021 budget will increase from N268.77 billion N318.77 billion.