Aregbesola presents 2015 budget of N197.08 billion to House of Assembly

Gov. Rauf Aregbesola of Osun, on Tuesday
presented the 2015 state budget of N197.08
billion to the House of Assembly for confirmation.
The budget was tagged:

“Budget of renewed hope’’.

Mr Segun Olorunsogo, the Permanent Secretary,
Office of Budget and Economic Planning, presented the budget on behalf of the governor.
Aregbesola said that the budget would ensure the
completion of ongoing projects, and
commencement of new ones that would bring
about positive impact on socio- economic life of
the citizens in Osun.

The governor said that the sum of N131. 8 billion
was estimated for revenue component, while the
capital expenditure was N65. 3 billion amounted
to N197. 080 billion.

“The recurrent revenue is N131. 8 billion and the
Capital receipt was N65, 340 billion, which
brought about the total sum as indicated,’’ he said.

According to him, “the budget presented was in
compliance with the acceptable international
standard and best practice.’’
Break down of the budget showed that the economic sector received the lion share of N41. 6
billion, while the Social Service Sector received
N21. 6 billon.

Regional Planning and Environment was allocated
N15. 2 billion and General Administration was
N31. 7 billion, the total allocation of the 2015
budget amounted to N110. 4 billion.
Personnel Cost was N27. 5 billion, Overhead Cost
was N17, 9 billion and the Consolidated Revenue
Fund Charges was N41. 2 billion, amounted to
N86. 5 billion.

Receiving the budget, the Speaker, Mr Najeem
Salaam, said he believed the budget would deliver
dividends of democracy to the people of the
state.
Salaam said that the people of the state should
not be discouraged, urging them to be patience
with government.

The speaker said that the financial challenges
being faced by the state now was due to paucity
of fund from the federation account.

The Permanent Secretary was accompanied by Mr
Aina Ayanleye, the Permanent Secretary Ministry
of Finance, Mr Tayo Kolawole, the State

Accountant-General and top functionaries of the
Ministry of Finance and Office of Budget and
Economic Planning

By Vanguard

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