Osun State Governor, Ademola Adeleke on Wednesday presented a total of Three Hundred and Ninety Billion, Twenty Million, Two Hundred and Seventy Seven Thousand, Seven Hundred and Forty Naira Only (390,028,277,740.00) as the 2025 Appropriation Bill of his administration before the State House of Assembly in Osogbo.
Tagged: “Budget of Reconstruction and Recovery”, Adeleke said the budget is borne out of the need to reconstruct the damaged economy and infrastructural facilities of Osun and set a fiscal stimulus against the impact of global economic recession.
According to the governor, the 34th annual Budget estimates since Osun was created on 27th August 1999 are in line with the existing Osun State Development Plan, 2023-2050.
“Our major focus therefore is to meet the yearnings of the good people of the State, complete all on-going projects, and embark on new ones where critically necessary. It is indeed with a high sense of duty, that I present the appropriation bill for the 2025 fiscal year. I acknowledge the maturity, discipline and patriotism behind your individual and collective conducts in your bid to uphold the democratic governance tenets,” Adeleke said while addressing the lawmakers.
Giving the analysis of the proposed revenue and expenditure, Governor Adeleke said, “The total size of the Budget 2025 is Three Hundred and Ninety Billion, Twenty Million, Two Hundred and Seventy Seven Thousand, Seven Hundred and Forty Naira Only (390,028,277,740.00).”
For the Capital expenditure, the governor explained that “The expenditure comprises Capital Expenditure of One Hundred and Forty-Four Billion, Two Hundred and Thirty-One Million, One Hundred and Eighty-Three Thousand, Eight Hundred Naira (N144, 231,183, 800), Recurrent Expenditure of Two Hundred and Forty Five Billion, Seven Hundred and Ninety Seven Million, Ninety Three Thousand, Nine Hundred and Forty Naira Only( ₦ 245,797,093,940.00).”
He added that “Recurrent Expenditure is divided into Personnel cost, which is made up of salaries and allowances, as well as Pensions and Gratuities and stands at One Hundred and Two Billion, Eight Hundred and Ninety Five Million, Eight Hundred and Twenty One Thousand, Ten Naira Only( ₦102, 895, 821,010.00). The balance of One Hundred and Forty Two Billion, Nine Hundred and One Million, Two Hundred and Seventy Two Thousand, Nine Hundred and Thirty Naira Only( ₦142,901,272,930.00 ) is set aside.”
On the revenue projection, Adeleke noted that, “Our Revenue consists of Recurrent Revenue, where Government share of FAAC is One Hundred and Ninety Six billion, Seven Hundred and Seventy Eight Million, Nine Hundred and Seventy Five Thousand, One Hundred and Eight Naira Only (₦ 196, 778, 975,180.00 and Independent Revenue is One Hundred and Nine Billion, Eight Hundred and Seventy Million, Nine Hundred and Thirty Two Thousand, Eight Hundred and Thirty Naira Only (₦109, 870, 932, 830.00). Other receipts from development partners are Fifty Three Billion, Three Hundred and Seventy Seven Million, Two Hundred and Forty Four Thousand, Six Hundred and Ten Naira Only (₦53,377,244,610.00).”
He seized the event to give his scorecards in the outgoing year 2024, saying his administration recorded unprecedented progress across the sectors which will be unveiled in detail during the midterm anniversary holding for a week later this month.
“Our administration has reduced rural Health Access gap by 40 percent through rehabilitation of over two hundred Primary healthcare centers; We increase health care access to all pensioners from less than 10% to 90% within 2 years; We close road infrastructure gap and deficit by 50% from 80%; We take agric mechanization from 0% to 35%; We built digital economy policy structures from 0% to 55%; We built public service integrity from 25% to almost 70%; We expanded local content from 0% to 75%; We built climate agenda from 0% to over 70 %; We raised state financial support for cooperative societies from 0% to 66%; We expanded financial support to ward cooperative societies from 0% to over 60%.
“We built Ilesa University from 15% to over 90%; We redeveloped Odeomu Cooperative College to HND institution; We increased Osun Google coverage from 20%to 65%; We launched phased bursary award from 0% to 40%; We liquidated 40% of inherited salary debt; We paid up over 35 % of inherited pension debt; We improved School infrastructure by over 40 percent; We enhanced rural Infrastructure by over 40 percent with over 300 completed rural projects,” he added.
According to him, the highlighted achievements were recorded without his government taking any loan.
“It is also important to state that Osun State has not taken any loan (External or Domestic). We rely solely on the prudent management of available resources to meet the yearnings and aspirations of the good people of Osun State. This is our goal and with God on our side we will not derail,” the governor maintained.
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