By Deborah Oladejo, Osogbo
The Osun House of Assembly has approved the review of the state 2020 Appropriation Bill reducing it from N119.5billion to N82.2billion.
The state governor, Mr. Adegboyega Oyetola, had requested the Assembly to review the budget due to the economic retardation caused by the Covid-19 pandemic.
The Speaker, Rt. Hon. Timothy Owoeye, at a plenary session on Friday said that N119.55 billion was approved for the 2020 Budget that was passed on the 24th of December, 2019.
Owoeye said the budget reduction marks 31.2per cent of the 2020 approved appropriation bill.
The Speaker stated that owing to the effect of COVID-19 pandemic outbreak on the global economy, it has become imperative for the state to review its budget.
He commended the governor for considering the people of the state in the reviewed budget, by voting N9.4bllion (which makes 11.5per cent of the amended budget) to fighting COVID-19 and the post-COVID-19 pandemic recovery activities.
The Speaker pointed out that the sum of N41.6 billion has been appropriated for recurrent expenditure from the consolidated Revenue while the sum of N40.6 billion was appropriated for capital expenditure.
Owoeye added that the bill would become law anytime the governor assent to it.