The Osun State Government in Southwest Nigeria has unveiled its 2025 fiscal year budget, emphasising its commitment to sustainable growth and improved citizens’ welfare.
Speaking in Osogbo, the state capital, on Thursday, the Commissioner for Economic Planning, Budget, and Development, Adeleke Moruf, highlighted the government’s priorities while presenting a detailed analysis of the budget.
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Moruf said the N427,746,925,170 budget was aimed at giving impetus to the five-point developmental agenda of Governor Ademola Adeleke, focusing on areas like education, health, agriculture, the creative industry and the digital economy, among others.
The commissioner, who noted that the budget was carefully crafted to incentivise the key areas, said a broad spectrum of stakeholders in the state were consulted before developing the document.
He said: “The Budget of Sustainable Growth and Transformation was crafted to fast-track the revitalisation of various sectors of the State economy by putting the State on the path of sustainable development and focusing on education, health, sports, roads, agriculture, creative industry, digital economy, and general infrastructure alongside women and youth programmes and policies.
“The budget process was carefully and meticulously done with stakeholders, such as civil society organisations (CSOs), members of the traditional council, market women & men associations, members of NURTW, religious leaders, opinion leaders, and other relevant stakeholders’ involvement at various stages to arrive at the projects and programmes in the budget.”
According to the Commissioner, the revenue composition of the budget would see the state getting 56 percent of its income from the Federation Account and Allocation Committee (FAAC), 26 percent from internally generated revenue and 8 percent from aids and grants.
He added that the expenditure part would see capital costs gulping 45 percent, personnel 24 percent, overhead 21 percent and subsidies 3 percent, while debt servicing would take 7 percent.
Moruf also stated that the budget was predicated on government policies and influenced by macroeconomic variables such as inflation rate, GDP growth rate, exchange rate and oil price, as well as the citizens’ needs, leading to a significant upsurge of 56 percent as against the 2024 budget.
He emphasised that the Osun State Government was dedicated to strategically investing in infrastructure, technology, health, education, security and other key sectors that drive growth, thereby boosting economic development and creating new job opportunities within the State.
The commissioner assured that the state would achieve a more stable revenue stream by fostering economic growth within its communities to increase revenue generation for the government to continue its interventions.
He added that the Ministry of Economic Planning, Budget, and Development would monitor the implementation process for delivery according to targets and expectations.
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