Category: Ministry of Budget and Economic Planning

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Budget Evaluation: Oyo Sets January to December Benchmark

Oyo State Government has disclosed it would henceforth set January to December cycle benchmark for budget planning and implementation in order to give enough room for easy evaluation by the Government and the people.

The Secretary to the State Government, Mrs Olubamiwo Adeosun made this assertion in her keynote address at a One-Day Sensitization Workshop on the year 2020 budget in Ibadan recently.

Adeosun, who emphasized the need to promote strategic planning with the budgeting system stated that the workshop was essential at the present time to educate and sensitize key officers in charge of the budget on the need to focus on transparency in the budget process which she said would ensure realization of the four pillar development agenda of the Seyi Makinde’s led administration.

Adeosun described the Government budget as the financial mirror of Government policies which derived from strategic planning, enunciated to achieve developmental goals for the citizenry, calling on the officers to see themselves as businessmen who should be all out to make profit on behalf of every citizen of the State.

“The budget is an economic and financial management instrument for allocating resources in order to achieve developmental objectives in an inclusive and sustainable manner and Government primarily exists to provide livelihood for the populace, Government is thus duty bound to provide quality services and public goods in the principle of equity and inclusiveness.

“To achieve this, there is a need to promote strategic planning and introduce best practice into our budgeting system and to make this happen, we have to set a benchmark for easier evaluation of the budget and January to December will be the target,” Adeosun stated.

Adeosun further noted that the Seyi Makinde’s led Government decision to create an independent ministry of budget and Economic planning was driven by the need to have a budgeting system that would be open and highly inclusive, an idea she claimed the previous administrations lacked.

“This administration is entrenching the principle of Budget Realism going forward in 2020. Our failure to perform well in budget execution has long been hinged on the weak link between policies, plans and budget. Hence the decision of this administration to create a Ministry of Budget and Economic Planning. “she said.

Also speaking at the event, the State’s Head of Service, Alhaja Ololade Agboola pointed out that the era of what she termed humongous and extravagant budget was over as the proposed 2020 budget would not only focus on the four cardinal principles and policies of the present administration which were education, health, security and economy but would also ensure its efficiency and effectiveness in other to deliver the dividends of democracy to the entire citizens of the State.

The Honorable Commissioner for Budget and Economic Planning, Barr. Adeniyi Farinto also reiterated at the workshop that the Government would begin January to December budget cycle, starting with the year 2020 budget.

He explained that this will ensure easier evaluation and monitoring of budget by the populace, noting that when a budget runs into the other year, it makes it very difficult to track, monitor and evaluate Government’s performance.

He therefore assured all that on the 31st day of December, 2019, the year 2020 budget would have been presented, screened and passed by the State House of Assembly and also assented to by the Governor.

The State House of Assembly had on Tuesday 3rd of September, reduced the 2019 budget of #282 billion passed into law by the immediate past administration to #182 billion as the incumbent administration described the earlier figure as unrealistic.

 

 

Hon. Wasiu Olatunbosun, PhD.,

Hon. Commissioner, 

Min. of Information, Culture & Tourism,

Oyo State Government.

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