UPDATED: Oyetola Presents N109.8bn ‘Budget of Providence’ to Osun Assembly
Governor Adegboyega Oyetola of Osun State on Tuesday presented N109, 855,051,640 appropriation bill to the State House of Assembly.
In the 2021 budget, critical sectors; Finance and Revenue has N22,060,767,720 representing 37.24 percent, Education; N10,711,328,430 (18.8 percent), Health; N10,647,909,910 (17.98 per cent ), Infrastructure has N4,271,461,870 (7 21 per cent), Water and Sanitation has N4,220,446,550 (7.12 per cent).
Agriculture has N3,404,734,560(5.75 per cent), Governance and Administration has N1,515,122,570 (2.56 per cent), Commerce and Industry has N1,134,043,200 (1.91 per cent), Social Development and Welfare has N638,460,000 (1.08 per cent) and Security Law and Justice has N134,379,830 (0.23 per cent).
Oyetola in his address at the floor of the house tagged the budget as “Budget of Providence” noting that the budget is aimed at helping the state out of the hardship that was brought by Coronavirus pandemic.
“Resourcing and implementing this 2021 budget is an act of faith that we will prevail in the battle to rebuild and stabilise the economy of this State beyond post-COVID levels by God’s Grace. As a result, we are dedicating the 2021 Budget to the post-COVID-19 recovery. This budget is the article of that faith. This is the Budget of Providence.”
The governor assured that the 2021 Budget shall be thoroughly and objectively implemented to achieve the collective desired goals.
On Recurrent Expenditure, Personnel takes N31,599,386,530 representing 29 per cent, Overhead has N16,960,968,950 (15 per cent) and Consolidated Revenue N2,059,927,660 (2 per cent) with the total sum, N50, 620,283,140 making 46 percent while 54% of the total budget amounting to N59,234,768,500 is dedicated to capital expenditure.
In the remark of the Chief Whip House of Assembly, Hon Babatunde Olatunji, on the content of the budget, he said, the appropriation bill presented by Mr Govefurther attest to its sagacity and dexterity in financial and people management. The selling point of the bill is that Capital expenditure exceeds recurrent expenditure with about 9 billion naira. This implies that the government is determined to spend more on providing services for the people and decisively addressing the likely post-COVID-19 economic threat.
This House of Assembly is conscious of the socio-economic reality of the period, with reference to the duo crisis of COVID and youth unrest. This will guide our scrutiny of the budget in ensuring that it addresses the needs of the people. We are going to work assiduously to ensure its early passage as we appeal to relevant agencies, ministries and parastatals of government to be available for their defences.