The state government initiated move towards downward review of the 2020 fiscal budget from 208.8 billion naira to 169.97 billion naira amid covid-19 pandemic.
The house also observed the first reading of an executive bill titled "Oyo State Contingency Trust Fund Management Bill 2020".
The executive bill went pass into law and allowed the government to monitor all funds made for contingency situations such as; the donations made to fight covid-19 pandemic in the state.
The state government in a bill titled " Reviewed Appropriation Bill 2020" and read for the first time during the plenary, by the speaker of the house, Hon. Adebo Ogundoyin, said the downward review of the budget was to accommodate the latest financial reality of the nation on the state which has made the covid-19 pandemic cause drastic drop in oil prices, national revenue and reduction in federal allocation to state and revenue generation in oyo state.
Please don't forget to like, comment and follow. Thanks
Content created and supplied by: DenisDunamis (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform