Oyo :2018 Budget not masses-oriented – Seyi Makinde.
Analyzing the 2018 Budgetary document that was recently assented by Governor Abiola Ajimobi, a Governorship Aspirant and chieftain of the Peoples Democratic Party, PDP Engr. Seyi Makinde has described the Budget as anti-masses, that is not capable to cater for the fundamental needs of the populace.
Makinde stresses that Oyo State is indebted for the budget to make expected impacts on the socio-economic life of the people.
This was contained in the release signed and made available to News Writers by his Special Assistant (Media), Dr. Dotun Oyelade.
The organisation claimed the excessive debt profile of the Governor Abiola Ajimobi administration has limited the options of good governance in the state. This is because the bulk of revenue is used to service these debts.
The statement reads :
“Seyi Makinde has done his homework and discovered that Oyo has exceeded its debt gross revenue and consolidated debt/net revenues by about 339.56 per cent and 410.86 percent respectively according to the Fiscal Responsibility Commission.
“This development has made the state to become the fifth in the Federation Highest Profligacy Index. As of 2016, Oyo State was indebted to the tune of N116bn according to the Central Bank of Nigeria Statistical Bulletin Vol. 27, December 2016, which makes the current administration the highest debtor since the creation of the state in 1976.
“What the government does in the past few years is to service the excessive debt by accumulating more debt and using same for recurrent expenditure such as salaries and capital projects that have no direct impact on the lives of the poor. According to the CBN Statistical Bulletin Vol 27, Oyo State has been running a deficit budget for years which has put the state in consistent decline with a devastating impact on the lives of workers, pensioners and the masses.”
The organisation implored the governor to ask the state Hous eof Assembly to discontinue the current budget and create one that is driven towards alleviating the sufferings of the people.