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General News of Tuesday, 21 July 2020

Source: www.mynigeria.com

COVID-19: Oyetola slashes 2020 budget to N82bn from N119bn

Osun State Governor, Gboyega Oyetola Osun State Governor, Gboyega Oyetola

Osun State Government has slashed its budget for the year 2020 from the sun of N119 billion to N82 billion due to the effects of COVID-19 on the nations revenue.

The News Agency of Nigeria reports that Gov. Gboyega Oyetola made the request via a letter sent to the Osun House of Assembly on Tuesday to ammend the state 2020 Appropriation Bill.

In the letter titled: “2020 Amended Appropriation Bill’’, the governor explained that coronavirus had affected revenue generation variables of the state and that was why the state 2020 Appropriation Bill had to be reviewed downward.

He said that N9.4 billion of the revised amendment (which makes 11 and a half per cent) would be spent and dedicated to fighting COVID-19 and the post-COVID-19 pandemic effects in the state.

Oyetola said that the amendment was based on reality and implored the lawmakers not to give attention to any state ministry, agency or department that wanted any upward adjustment of its budget.

The amendment bill was passed by the lawmakers for first and second readings and the policy trust of the bill was equally read.

The lawmakers unanimously said that the bill be given accelerated passage, because of the reality of the coronavirus on the state and the world economy.

The speaker said the amendment was a 35 per cent reduction in the 2020 Appropriation Bill, saying that the dedication of part of the budget to fighting COVID-19 and post-COVID-19 effects was laudable as many businesses had been affected and crippled by the global pandemic.