Osun State Governor, Senator Ademola Adeleke, on Wednesday, approved the total size of the 2025 budget, amounting to Three Hundred and Ninety Billion, Twenty-Eight Million, Two Hundred and Seventy-Seven Thousand, Seven Hundred and Forty Naira Only (₦390,028,277,740.00).
The governor presented the budget to the State House of Assembly in the presence of lawmakers and members of the State Executive Council during an annual event hosted by the House Speaker, Right Honourable Adewale Egbedun.
According to him, “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 (₦144,231,183,800.00), and 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).”
“Recurrent expenditure is divided into personnel costs, which are 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.”
“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),” the Governor noted in his speech.
Governor Adeleke affirmed that his administration has recorded unprecedented progress across various sectors, which will be unveiled in detail during the midterm anniversary holding for a week later this month, submitting a synopsis to the Assembly.
“Our administration has reduced the rural Health Access gap by 40% through the rehabilitation of over two hundred Primary healthcare centres; We have increased healthcare access to all pensioners from less than 10% to 90% within 2 years;
“We closed the road infrastructure gap and deficit by 50% from 80%; We took agricultural mechanisation 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 a climate agenda from 0% to over 70%; We raised state financial support for cooperative societies from 0% to 66%; We expanded financial support to cooperative societies from 0% to over 60%;
“We built Ilesa University from 15% to over 90%; We redeveloped Odeomu Cooperative College into an HND institution; We increased Osun Google coverage from 20% to 65%; We launched a phased bursary award from 0% to 40%; We liquidated 40% of inherited salary debt;
“We paid off over 35% of inherited pension debt; we improved school infrastructure by over 40%; we enhanced rural infrastructure by over 40% with over 300 completed rural projects,” the governor affirmed, adding 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 told the lawmakers.
Governor Adeleke said the increase in the size of the budget from that of last year was meant to consolidate the gains already recorded in the implementation of the 2024 Appropriation Act.
“The administration is determined to expand the state economy, increase the state’s internally generated revenue, and block leakages in the state financial system to cope with the increase in the budget size.”
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