Gov. Ademola Adeleke of Osun, on Wednesday, presented a budget of N390,028,277,740 for the 2025 fiscal year before the state House of Assembly for approval
The News Agency of Nigeria (NAN) reports that the 2025 budget is tagged “Budget of Suatainable Growth and Transformation.”
The governor stated that N144,231,183,800 was earmarked in the budget for capital expenditures while N245,707,093,940 was for recurrent expenditures
He, however, said that the ‘recurrent expenditure was divided into personnel cost; made up of salaries, allowances, as well as Pensions and gratuities, which received a total of N102, 895, 821,010.
He said the balance of the recurrent expenditure of N142,901,272,930 would also be set aside.
Adeleke said that the revenue to fund the budget was expected from the Federal Allocation (share of FAAC), projected at N196, 778, 975,180 and Internally Generated Revenue estimated at N109, 870, 932, 830.
He said the balance of the revenue would be from other receipts from development partners put at N53,377,244,610.
He said the 2025 proposed budget estimates was in line with the existing Osun State Development Plan, 2023-2050.
Adeleke thereafter highlighted some of the achievements of the 2024 fiscal budget and thanked the state lawmakers for their support and cooperation with the executive.
The Speaker, Mr Adewale Egbedun, in his speech, said the legislative was committed to working diligently to ensure the timely passage of the budget.
He said that the lawmakers would also exercise their oversight functions to ensure funds are judiciously utilised.
Egebdun said the legilature would continue to demand thorough accountability for previous allocations, disbursement and expenditures from head of ministries, agencies and parastatals and also hold them accountable for the taxpayers money spent.
He said the lawmakers would scrutinise the budget proposal to ensure that it aligns with the aspirations of their constituents.
According to him, we will equally not shy away from holding the executive accountable.
He further said that the legislature would continue to seek to strengthen the collaborative effort between it and the executive, stressing “unity is fundamental to the progress of the state” (NAN).
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