The Osun State Governor, Ademola Adeleke on Wednesday presented a budget of N390 billion for the 2025 fiscal year to the state House of Assembly for approval.
It was gathered that the budget tagged: “Budget of Reconstruction and Recovery”, marks the 34th of its kind since the State was carved out of the Old Oyo State on 27th August, 1999.
The Governor in his speech made available to newsmen by his spokesperson, Olawale Rasheed, said the budget was born out of the need to reconstruct the damaged economy and infrastructural facilities in the State and set a fiscal stimulus against the impact of global economic recession.
He added that the 2025 proposed estimates are in line with the existing Osun State Development Plan, 2023-2050, adding that the state is focused on meet the yearnings of the good people of the State, complete all on-going projects, and embark on new ones where critically necessary.
According to the Governor, 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).
“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.”
