The Oyo State Government has refuted speculations that the 2021 budget revised and passed by the House of Assembly last week was increased.
This has been the speculation in several political quarters.
According to the state government, the downward review of the N273.7bn budget to N268.8bn became imperative as a result of the need for the sustainability of the budget.
Adeniyi Farinto, the Commissioner for Budget and Planning, stated on Friday in Ibadan that the executive arm of government only requested the House to consider a downward review of the N273.7bn budget based on the critical ratios required for sustainability.
“There was never a time the government rejected the budget based on the addition of the N7.1bn. The executive only called the attention of the legislative arm of government to the need to achieve fiscal sustainability of the proposed 2021 appropriation bill.
“The House was notified by the Ministry of Budget and Economic Planning to consider revising the budget based on a set of critical ratios required for the 2021 Appropriation Bill to be sustainable.”
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