He said: “The proposed budget reflects the economic recovery plan of the present administration towards addressing the current economic challenges and fast track economic recovery.
He added that the government has projected N72 billion as the Internally Generated Revenue for the year 2024 at the rate of N6 billion monthly, noting, however, that residents of the states should not exercise fears over tax increment.
Prof Babatunde maintained that the state is reviewing the current tax administration to ensure that more taxable entities are brought into the tax net, while it will also block leakages by improving revenue collection through ICT.
The commissioner also gave an assurance that there would be control and enforcement on spending limits to ensure that a sound budgetary system is put in place to include aggregate fiscal discipline, efficiency and effective spending of the budget.
Earlier in his opening remarks, the Permanent Secretary, Ministry of Budget and Economy Planning, Dr Sunday Ojelabi, said the budget breakdown was necessary so as to involve all stakeholders on the implementation of the 2024 Budget.
Those present at the budget analysis were the Executive Assistant to the Governor on Finance, Budget and Economic Planning, Alhaji Gafar Bello; Special Adviser, Budget and Economic Planning, Hon. Simeon Oyeleke; and Director of Admin and Supplies in the Ministry, Alhaji H.A. Bello, among others.