The Governor of Osun, Adegboyega Oyetola on Tuesday presented a total sum of One Hundred and Twenty-Nine Billion, Seven Hundred and Fifty-Six Million, Four Hundred and Fifty Thousand, Seven Hundred and Ninety Naira (N129,756,450,790.00) to the State Assembly as draft budget of the 2022 fiscal year.
Oyetola said the budget affirms his government’s commitment to sustainable development and the advancement of the State’s economy.
The larger chunk of the Appropriation Bill goes to infrastructure, education, health sectors and Agriculture sector.
The budget size, christened “Budget of Sustainable Development” was higher than the year 2021 budget N109.8bn by over N20bn.
Recurrent Expenditure was N53,593,627,990.00, representing 41.30%, while the Total Capital Expenditure was N76,162,822,800.00, representing 58.70% respectively.
The total sum of N26,609, 441, 740.00 went to Education; over N19 billion to Infrastructure Sector; about N16 billion to the Health Sector and about N7 billion to the Agriculture Sector.
Presenting the 2022 Appropriation Bill, Oyetola said the budget was aimed at further cementing and pursuing the policy thrust of his administration, and consolidating various achievements so far recorded in each sector of the economy of the State.
The govermor explained that in view of the prevailing economic realities, the main focus of the budget would be aggressive improvement of the Internally Generated Revenue drive to ensure optimum performance in the coming years.
He said workable strategies have been put in place to boost the revenue without putting unnecessary burden on the residents.
Speaker Responded
The Speaker, Osun House of Assembly, Hon. Timothy Owoeye lauded the administration of Governor Oyetola for prioritising accountability, probity and prudence in the management of the scarce resources accruable to the State.
He promised legislature commitment to ensuring speedy passage of the budget as it had done in the past saying “we will continue to play a supportive role to the executive arm to continuously better the lives of the citizens.
“I wish to commend Governor Oyetola and everyone who took part in the implementation of the 2021 budget for the wonderful job. With a 97% performance in 2020 and 77% as at the second quarter of 2021 budget, our performance has greatly increased our standing in the comity of States and also makes us an investment destination for local and foreign investors”, he said.
Owoeye urged the residents to reciprocate the government prudence in the management of the scarce resources by paying their taxes accurately and promptly.
Hauwa Abu
