Poor allocation: Aregbesola wants budget cut by N12.8bn
A statement by the Chairman, House Committee on Information and Strategy, Olatunbosun Oyintiloye said the governor was seeking the approval of the house for the review of the budget due to the poor economic reality. According to the statement, the letter read in part: “The current economic downturn in the country, occasioned by the dwindling revenue from the federation account, it necessitate the need to reduce the cost of governance. “Therefore, it has become pertinent and inevitable to restructure the 2016 draft budget in line with the reality on ground. “In line with the extant rules and regulations, the House, through your office is being informed about this new development”, the letter added.
The governor sought the review of the revenue and expenditure from N150,728,245,450 to N137,977,966,630. Also, the personnel cost is review from N33,344,515,710 to N32,793,966,970; the overhead cost reviewed from N12,276,675,930 to N9,202,330,410; Consolidated Revenue Fund Charge remained N37,123,204,940, while the capital expenditure is reviewed from N67,983,848,960 to N58,858,464,310.