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From Lateef Dada, Osogbo
Osun State Government has explained that the 2025 budget was increased from N390,028,277,740 to N427,746,925,170 to accommodate the increasing citizens’ needs.
Commissioner for Economic Planning, Budget and Development, Prof Moruf Adeleke, who disclosed this at the 2025 budget analysis in Osogbo, on Thursday, stated that N251,670,167,990 is expected to come from the Federation Accounts Allocation Committee (FAAC) consisting of Statutory allocation, Value Added Tax, Exchange Rate Gain, Ecological Fund, Electronic Money Transfer Levy and other revenue from FAAC.
He said N109,870,932,830 is expected from Internally Generated Revenue (IGR), while N36,204,699,230 would come from other capital receipts as well as N30,001,125,120 being the estimated opening balance.
“In the same vein, the Recurrent and Capital Expenditures stood at N236,197,782,900 and N191,549,142,270 at a ratio of 55 percent to 45 percent respectively.
“Having considered the minimum wage, the Personnel cost which forms part of the recurrent expenditure was estimated at N102,895,821,010, comprising salaries, allowances, salary arrears, social contributions, and social benefits. This represents 24 percent of the budget size.
“The other recurrent expenditure which is made up of non-debt of N104,301,449,660 and service of the previous administrations’ debt amounting to N29,000,512,230. These give a total of N133,301,961,890, representing 31 percent of the total budget size. The capital expenditure is N191,549,142,270 which constitutes 45 percent of the total budget size.” Adeleke noted that the government is dedicated to strategically investing in infrastructure, technology, health, education, security and other key sectors that drive growth, ultimately boosting economic development and creating new job opportunities within the state.
