Breaking News

Oyetola Presents Osun N119.5bn 2020 Budget ~ Nationnewslead


Governor Gboyega Oyetola of Osun state has presented 2020 appropriation bill of 119.5 billion naira to the state House of Assembly with a charge on his administrative stakeholders to strive for increase in internally generated revenue.

The governor presented the 29th annual budget of the state of Osun since inception to today at the Osun state house assembly.

Gboyega Oyetola stated that his government will ensure the successful execution of the project captured  In the 2020 budget subject to availability of funds in the 2020 financial year.

"In view of the importance attached to governance and administration sector,  a reasonable amount has been earmarked for smooth running of government business,  including payment of salaries, overhead expenditure, salary arrears, pension and gratuity".

The budget comprises capital expenditure of 57.6billion and recurrent expenditure of 61.9billion naira.

Presenting the draft budget, the governor said the document is designed to boost agriculture and infrastructure programmes, education, among other sectors in the state.

The governor also promised a better working environment and welfare packages for civil servants in the state.

Speaking earlier before the presentation, Speaker of the House, Timothy Owoeye charged members of the parliament to be holistic in ensuring that the fiscal document is well scrutinized and cater for the interest of the people of the state before possible approval. 

"The committee of the house will work assiduously to undertake effective oversight and ensure timely execution of government projects".

"We need to ensure prudence and value for money in the delivery of qualitative services to our people".

Owoeye Assured the Osun people of the readiness of the members of the 7th assembly to partner with current administration to achieve all the goals and targets of taking Osun to the next level of development.

He enjoined members of the parliament to carry out their legislative engagements in harmony with the executive to place the economy of the state on a sustainable pathway.   

Finance and revenue which takes the largest proportion in the budgetary allocation gulps 38percent, followed by water and sanitation,which takes 12percent ,and education which is 10percent, among others

Tagged "budget of Restoration " the fiscal document is 34.8 billion lesser to the state 2019 budget of 154 billion naira.

The breakdown of the budget further shows that the Infrastructure sector takes the largest chunk with a total sum of N9,318,841,640.00 (15.06%) followed by Water and Sanitation sector with a sum of N7, 581,241,350.00. (12.25%), while N6,517,762,830.00 (10.53%) was budgeted for the Education sector.

 Governance and Administration sector has N4,323,555,790.00 (6.99%) while N4,311,456,450.00 (6.97%) was budgeted for Health sector.

Agriculture sector has N2,363,716,760.00 (3.82%);  Security, Law and Justice Sector, N1,425,784,530.00; Environment sector has N736,347,190.00 (1.19%); Commerce and Industry sector N638,851,490.00 (1.03%); Economic Planning and Budget sector N345,864,600.00 (0.56%).

Other are: Information and Communication N205, 380,210.00 (0.33%) and Social Development and Welfare N129,930,370.00 (0.21%) .

No comments