Connect with us

Business

Gov. Adeleke presents N273.9 billion 2024 budget to Osun State Assembly 

Published

on

Ademola Adeleke1

Osun State governor, Ademola Adeleke on Thursday, presented an impressive sum of N273.9 billion 2024 Appropriation bill to the state House of Assembly. 

According to Adeleke, the “Budget of Reconstruction and Recovery” is divided into a Recurrent Expenditure of N165.65 billion and a Capital Expenditure of N108.25 billion. 

The governor said that the budget’s primary objective is to rejuvenate and reconstruct the state’s economy, which was in a dire state when his administration took over. 

Adeleke emphasized that he was following the established laws, which require the presentation of a state’s draft budget to the House of Assembly for approval before the year’s conclusion. 

He appealed for the speedy passage of the appropriation bill by the lawmakers. 

Source of Revenue for the Budget 

Adeleke confirmed that the budget would be funded through Internally Generated Revenue (IGR), federal allocations, domestic and foreign loan facilities and various other sources of funding. 

According to the governor, the budget’s dedication is to advance the people’s welfare and strive for a beneficial influence on their daily lives.  

He therefore urged the lawmakers to expeditiously evaluate and pass the budget, requesting their comprehension and collaboration. 

Accordingly, he said the budget is meant to revamp the state economy amid the economic crisis caused by the removal of subsidy as well as the devaluation of the naira.  

More on the Story 

On his part, the Speaker of the assembly, Mr. Adewale Egbedun, emphasized the historic nature of the budget presentation. This budget is not only the governor’s first but also the inaugural one to be discussed by the 8th assembly. 

Egbedun promised that the assembly would ensure that the budget is passed on time. 

Moreover, the assembly has been directed by the Speaker to receive 35 copies of the budgets from the state’s Ministries, Agencies, and Departments. 

Also, the Speaker announced the names of the governor’s nominees on the boards of some state statutory commissions which included, the Osun Independent Electoral Commission and Osun Assembly Service Commission. 


Download Nairametrics App for breaking news and market intelligence.
    app store banner

Trending