The state’s 2022 budget had a capital spending of 52.97%, which was higher than its recurrent expenditure for the first time, according to Lawal, who claimed that the administration had been able to maintain a reduced recurrent expense to capital expenditure ratio.

This was revealed in a statement by Taiwo Adisa, the Governor’s Chief Press Secretary.

The acting governor gave a speech during the 2023 Budget Consultative Forum, which was held in Ibadan as usual before the new budget was announced.

He explained that the government, out of a total budget of N294.5bn, injected N156bn into the economy through investments in infrastructure and ensuring that people have higher purchasing power.

He claims that the state’s recurrent expenses for the fiscal year 2022 will total N138 billion, or 47.3% of the overall budget.

As with the 2021 budget, he said, “we were guided by the tenets of the Federation’s Fiscal Sustainability Plan and other development aspirations.

In the past three years, the Makinde administration has started a number of capital projects that are helpful to the people, according to Lawal, who also stated that the administration would keep to its pledge to provide sizable infrastructure projects that target the state’s economy.