Makinde approves promotion of over 7,000 workers – moneyamebo


The Governor of Oyo State, Seyi Makinde has approved the promotion of all civil and public servants whose promotions were due in 2022.

A statement by the state Commissioner for Information and Orientation, Dotun Oyelade, in Ibadan, the state capital, said the approval was taken during the Executive Council meeting.

He stressed further that the development was consistent with the government’s policy on workers’ welfare in the past four years.

Oyelade said, “The state Commissioner for Budget and Economic Planning, Musbau Babatunde, said the Exco approved the realignment of the 2023 supplementary budget, to be presented to the state House of Assembly for approval.

“He said the decision was necessitated by the twin economic policy of subsidy removal and the unification of exchange rate has led to some shifts in macro-economic fundamentals in the state, with respect to inflation, exchange and interest rates. The government took into decision certain projects that are going on, overridden by costs. The requests by Ministries, Departments and Agencies on the need to situate their current budget performance in the context of the shift in macroeconomic fundamentals.

“The increment in the 2023 budget size is from N310,432,500,000.00 to the sum of N352,382,500,000.00. The idle funds in some MDAs have been realigned in line with the current economic realities. He said the government is currently negotiating with the Nigeria Labour Congress, and decisions taken from the meeting will be included in the realigned supplementary budget.

“The Medium Term Expenditure Framework (2024-2026) on which the 2024 budget will be premised has been approved by the Exco. The approved figure for this is N424,410,611,938.00. This is an increase of the sum of N69,237,658,025.00 which represents 19.49 per cent over the 2023 pre-empted figure of N355,172,953,913.00.

“He said the current realigned budget of N352,382,500,000.00 mirrors the Oyo State Government’s projection perfectly, for the year 2023. We expect the Medium Term Expenditure Framework to be a good guide for the fiscal balance of the year 2024 budget,” he explained.

Source: The Punch


Please enter your comment!
Please enter your name here

Share post:



Latest Updates

More like this

Former EFCC chairman, Ibrahim Lamorde, dies at 61

A former chairman of the Economic and Financial Crimes...

Oil alone cannot make Nigeria wealthy — Sanusi

A former Governor of the Central Bank of Nigeria...

CBN issues new guidelines for bureau de change operations

The Central Bank of Nigeria (CBN) has released new...

Naira gains N28.34 against dollar at official market

The Naira on Monday gained N28.34 at the official...
Bitcoin (BTC) $ 67,956.21 0.63%
Ethereum (ETH) $ 3,856.53 1.00%
Tether (USDT) $ 0.999463 0.01%
BNB (BNB) $ 598.65 0.64%
Solana (SOL) $ 166.99 1.43%
Lido Staked Ether (STETH) $ 3,854.09 0.98%
USDC (USDC) $ 1.00 0.03%
XRP (XRP) $ 0.525358 0.01%
Dogecoin (DOGE) $ 0.165009 0.15%
Toncoin (TON) $ 6.32 0.82%