Osun State Governor, Ademola Adeleke, on Wednesday presented a total of ₦390,028,277,740 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 August 27, 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 ongoing 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 conduct in your bid to uphold the democratic governance tenets,” Adeleke said while addressing the lawmakers.
Giving the analysis of the proposed revenue and expenditure, Adeleke said, “The total size of the Budget 2025 is ₦390,028,277,740,” adding that for the Capital expenditure, the expenditure comprises Capital Expenditure of ₦144,231,183,800 and Recurrent Expenditure of ₦245,797,093,940.
He noted 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 ₦102,895,821,010, while the balance of ₦142,901,272,930 is set aside.
On the revenue projection, Adeleke said, “Our Revenue consists of Recurrent Revenue, where the 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).”