Osun Assembly Concludes MDAs Appropriation Exercise

The Chairman House Committee on Finance and Appropriation, Hon. Olumide Fatunmise has assured the people of Osun that the 2025 budget is will be a success, saying Gov. Ademola Adeleke draft estimates for the next fiscal year had adequately captured the main focal need of the people.

Recall Daily Impact reported that the Governor Ademola arrived the Osun Assembly to present the 2025 budget draft on 13th November, 2024 as it is constitued in the law of Nigeria that Governors present the budget of the next year before the commencement of the next financial year.

In continuation of the 2025 Budget Defense Exercise embarked upon by Osun State House of Assembly, on Thursday, the Assembly hosted

Ministry of finance debt management office, office of the Accountant-General, Osun public procurement agency, Osun internal revenue service, ministry of economic planning, budget and development, state Bureau of Statistics, Osun State House of Assembly, Osun State House of Assembly service commission and rounded up by the Hon. Commissioner of Budget and Economic Planning, Hon. Prof Moruf Ademola Adeleke

After a two-week careful examination of the budgets of Ministries, Departments and Agencies of government in the state, the Osun state House of Assembly has concluded on the 2025 fiscal year budget defence exercise.

Earlier, during the exercise, the Commissioner of Budget and Economic Planning, Hon. Prof Moruf Ademola Adeleke who rounded up the Appropriation Exercise, noted that the 2025 budget is sustainable.

Giving his closing remarks, Hon. Olumide Fatunmise stated that some mechanisms to aid and assist in upgrading the IGR has been put in place, citing, the Segilola shares as an example, which will ensure the harmonized bill will work and efficiently block leakages.

Speaking during an interview, the Chairman House Committee on Finance and Appropriation, Hon Olumide Fatunmise noted that the successes recorded in the state so far are the testaments to the dedication, hardwork and vision of all those who involved in reshaping the state at the initial stage.

The Chairman expressed his heartfelt congratulations to the governor, Senator Ademola Adeleke for a remarkable milestones reached in the past years.

He added that ;”The Prudent, financial management, strategic planning and transparent budgetary processes have undoubtedly contributed to the prosperity and development of the state”.

Recalling, that while Governor Adeleke Ademola was delivering the 2025 budget presentation address, which is the 34th annual budget of Osun state, tagged sustainable growth and Transformation, Governor Adeleke Ademola, “reiterated that the Osun 2025 budget is focused on sustainable development and Transformation from 2023-2050.

Governor Adeleke Ademola declares that the total budget is 390billion,28million,277 thousand and 740naira (390,28,277,740).

ANALYSIS OF THE 2025 PROPOSED REVENUE AND EXPENDITURE

The total size of the Budget 2025 is Three Hundred and Ninety Billion, Twenty Million, Two Hundred and Seventy Seven Thousand, Seven Hundred and Forty Naira Only (390,028,277,740.00).

CAPITAL EXPENDITURE

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

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.

REVENUE PROJECTIONS

Our Revenue consists of Recurrent Revenue, where 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).