Read Full 2025 Budget Speech of Gov Adeleke Ademola

Senator Ademola Jackson Nurudeen Adeleke has presented to the members of the Osun State House of Assembly the budget draft for the year 2025.

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

 

 

2025 BUDGET SPEECH DELIVERED BY THE GOVERNOR OF OSUN, SENATOR NURUDEEN ADEMOLA JACKSON ADELEKE AT THE OSUN HOUSE OF ASSEMBLY ON WEDNESDAY, 13TH NOVEMBER, 2024.

 

 

It is my pleasure and privilege to be here once again to present the 2025 Appropriation Bill of Osun State today Wednesday, 13th November, 2024

 

Rt. Honourable Speaker and Members of the Osun House of Assembly, the proposed Budget I am presenting today is set against the backdrop of past and current years (2023 and 2024). Budget 2024, tagged “Budget of Reconstruction and Recovery” is borne out of the need to reconstruct the damaged economy and infrastructural facilities of our dear State and set a fiscal stimulus against the impact of global economic recession.

 

 

 

Mr. Speaker, it should be noted that the 2025 Budget will be the 34th annual Budget since this State was carved out of the Old Oyo State on 27th August, 1999. It is therefore important to state that what we are doing today is in line with Constitutional provision as enshrined in Section 121(i) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

 

Moreso, global best practices, Fiscal Sustainability Plan (FSP), and Financial Management Reform demand that the formulation and authorisation of the annual Budget should be concluded before the end of current financial year.This is with a view to paving way for its implementation as early as the 1st day of January of the succeeding year.

 

 

Permit me to seize this opportunity to express my sincere appreciation to the people of Osun for standing solidly behind our administration and our great Party over the past two (2) years. All these support is an indication that our State is progressively inclined. I stand to assure the good people of Osun that our administration will continue to judiciously pursue the formulation and implementation of policies, programmes and projects that will bring about the restoration and sustainable growth of Osun State as we have always been doing.

 

 

I need to reiterate that the 2025 proposed estimates 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 on-going 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 conducts in your bid to uphold the democratic governance tenets.

 

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).

 

It is to be noted, that we shall continue to place great emphasis on capital projects for the benefit of our people and social-economic development of our dear State.

 

2024 ACHIEVEMENTS AND 2025 STRATEGIC AGENDA

 

I am happy to report that our administration has made significant progress in the implementation of the state agenda in the current fiscal year. In specific terms, our government has ensured implementation of state objectives as contained in the current budget and the five point agenda.

 

 

Our administration recorded unprecedented progress across the sectors which will be unveiled in detail during the midterm anniversary holding for a week later this month.

 

Our administration has reduced rural Health Access gap by 40 percent through rehabilitation of over two hundred Primary healthcare centers;

 

We increase health care access to all pensioners from less than 10% to 90% within 2 years;

 

We close road infrastructure gap and deficit by 50% from 80%;

 

We take agric mechanization 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 climate agenda from 0% to over 70 %;

 

We raised state financial support for cooperative societies from 0% to 66%;

 

We expanded financial support to ward cooperative societies from 0% to over 60%;

 

We built Ilesa University from 15% to over 90%;

 

We redeveloped Odeomu Cooperative College to HND institution;

 

We increased Osun Google coverage from 20%to 65%;

 

We launched phased bursary award from 0% to 40%;

 

We liquidated 40% of inherited salary debt;

 

We paid up over 35 % of inherited pension debt ;

 

We improved School infrastructure by over 40 percent;

 

We enhanced rural Infrastructure by over 40 percent with over 300 completed rural projects;

 

To attain all the above, it is also important to state 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.

 

CONCLUSION

 

Mr. Speaker, Honourable Members, Your Excellencies, Kabiyesis, our Elders, Gentlemen of the Press, Ladies and Gentlemen, this Budget Speech will not be complete without a place for our lawmakers who have been very supportive of our Administration in the last two years.

 

The State House of Assembly, as an organ of Government saddled with the responsibility of making laws for the good governance of the State, is equally assisting the Executive arm through its oversight functions. This ensures effective results on governmental engagements with a view to having value for money in project formulation and execution.

 

Ladies and Gentlemen, I thank you most sincerely for your attention as we continue to press the pedal and accelerate with our mission to develop the State. We are set to continue to redefine the Osun standard, to drive bold reforms, to put in place a system driven environment, equal to efficient service delivery.

 

 

We have a collective responsibility to ensure the success of this budget for the benefit of the good people of Osun, and for our nation as a whole. I strongly believe that, God willing, with determination and collective efforts, we shall succeed in this desire to rapidly accelerate our development and write our own chapter in the story of Nigeria’s economic diversification and transformation, and most importantly, in our quest for a new Osun of our dream.

 

I thank you all.