Oyo State Governor Seyi Makinde has requested that the State House of Assembly approve a N50 billion supplementary budget.
On Tuesday, Makinde requested that the budget be considered and approved.
The request was included in a letter to state legislators.
The supplementary budget, according to Makinde, will fund three projects.
The projects, he explained, were not included in the approved budget for 2021.
According to him, the three projects are the Ibadan Circular Road, the Iseyin-Ogbomoso Road, and the Ibadan Airport Improvement.
Ibadan Circular Road will cost twenty-five billion naira (N25,000,000,000,00), Iseyin-Ogbomoso Road will cost fifteen billion naira (N15,000,000,000,00), and Ibadan Airport Improvement will cost ten billion naira (N10,000,000,000,00), according to Makinde (N10,000,000,000,00).
The Central Bank of Nigeria will provide N50 billion under the Differentiated Cash Reserves Requirements, or DCRR, of which the House of Assembly has approved N100 billion.
The budget for 2021 will be increased from #268,770,964,860,00 to #318,770,964,860,00. (318,770,964,860).
It was previously reported that lawmakers approved an additional six billion naira credit facility for Governor Seyi Makinde on Tuesday.
This latest loan request comes on top of the loans Makinde has taken out since becoming governor of the state.
In July of this year, lawmakers approved a ten billion naira loan for the governor.