Broadening tax net to fund 2023 supplementary budget— Oyo Majority Leader to Oyo Gov’t

Commendations have continued to pour in for the Oyo House of Assembly Majority Leader, Hon. Sanjo Adedoyin for his elegant submission to increase the state’s revenue base in order to fund the budget increment. 

During the Wednesday plenary session when the House was considering the supplementary budget for second reading, Adedoyin brought up the topic of the urgent need for the State Government to broaden and enhance its tax revenue base in order to finance the budget. 

According to the majority leader, this will prevent the State from adding to the already heavy burden already placed on the citizens as a result of the two Government policies.

Adedoyin’s submission, however got the nod of members of the house, including observers at the plenary who commended him for his beautiful submission. 

A statement made available to MOUTHPIECE NGR on Tuesday from the Oyo State House of Assembly, indicated that the State lawmakers have harped on the need for the State Government to put new measures in place towards expanding and broadening the tax net of the State in order to fund the budget increment.

The statement said: “This was part of the submission of the lawmakers as the 2023 Supplementary budget is referred to the House Committee on Finance, Appropriation and Budget for further scrutiny.

“It would be recalled that Governor Seyi Makinde is seeking the upward review of the 2023 budget from #310,432,500,000 to #352,282,500,000.

“The Governor said the supplementary became necessary due to the adverse economic effects of removal of subsidy on Premium Motor Spirit PMS and the floating of the exchange rates by the Federal Government.

“While deliberating on the supplementary budget, the lawmakers noted the vital need for the State Government to increase and expand its tax revenue base to fund the budget so as to avoid placing additional burden on the citizens who are already feeling the adverse effects of the two Government policies.

“They appealed to the State Government not to increase the tax rates but to ensure that more people who have not been paying taxes are captured in the tax nets.

“This is just as they appealed to the State Government to ensure that adequate and necessary tax remittances are made to the coffers of the State Government to avoid leakages

“The Speaker, Hon. Adebo Ogundoyin who appreciated his colleagues for their various contributions assured that the State legislature would continue to perform its oversight functions on Government activities.”