Oyo state assembly has urged the Governor, Seyi Makinde, to expand the state’s tax net in its revenue generation drive to fund the 2023 supplementary budget.
The legislature also advised the governor not to yield to the temptation of pushing the tax burden on the people who are currently grappling with the harsh economic realities in the country.
The state legislature made the appeal on the floor of the House on Wednesday October 25, during its plenary sitting.
This was as the 2023 supplementary budget scales second reading after legislative deliberation and consideration.
The lawmakers argued that so much potentials and opportunities abound in the informal sector and urged Makinde to look inward in the state’s revenue generation drive.
Yesterday, Oyommind.com reported that Makinde’s request to jerk up Oyo state 2023 supplementary budget of three hundred and ten billion, four hundred and thirty two million, five hundred thousand naira (#310,432,500.00) to three hundred and fifty two billion, two hundred and eighty two million, five hundred thousand naira only (#352,282,500.00) scaled first reading on the floor of the House yesterday.
The governor premised the request for upward review of the state budget on impact of the twin economic policies of the federal which include removal of fuel subsidy and floating of the naira to dollar exchange rate which has since seen the local naira currency struggling against the dollar thereby increasing the cost of economic goods and services.
Lawmakers in their separate remarks during legislative deliberation during the second reading commended Makinde for seeking upward review of the 2023 budget while acknowledging that the initial budgeted 310.4 billion was unrealistic in the face of current economic realities.
In his brief remarks, the Speaker, Honourable Adebo Ogundoyin, commended his colleagues for their robust contribution and called for points raised to be duly noted for further legislative consideration.
The Supplement Budget Bill was however, committed to the House Committee on House Committee on Finance, Appropriation, and Budget for further legislative action.
