Home My Town & I Oyetola Presents N119b 2020 Budget Proposal To State Assembly

Oyetola Presents N119b 2020 Budget Proposal To State Assembly

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By Deborah Oladejo, Osogbo

Osun State Governor, Mr. Gboyega Oyetola on Thursday presented a proposed budget of one hundred and nineteen billion, five hundred and fifty million, four hundred and one thousand naira, forty kobo (N119,550,401,040) for the 2020 fiscal year to the State House of Assembly.

Oyetola while presenting the budget tagged Budget of Restoration, said the recurrent expenditure has N57,674,993,990.00 representing 48.24 percent while the capital expenditure has N61,875,407,050.00 representing 51.76 percent totalling 119, 550, 401, 040.00 for total expenditure.

On Expenditure, personnel takes N36,465,191,230.00 (30.50%); Overhead has N20,009,802,760.00 and consolidated revenue fund takes N1,200,000,000.00.

The breakdown of the budget further shows that the Infrastructure sector takes the largest chunk with a total sum of N9,318,841,640.00 (15.06%) followed by Water and Sanitation sector with a sum of N7, 581,241,350.00. (12.25%), while N6,517,762,830.00 (10.53%) was budgeted for the Education sector.

Governance and Administration sector has N4,323,555,790.00 (6.99%) while N4,311,456,450.00 (6.97%) was budgeted for Health sector.

Agriculture sector has N2,363,716,760.00 (3.82%);  Security, Law and Justice Sector, N1,425,784,530.00; Environment sector has N736,347,190.00 (1.19%); Commerce and Industry sector N638,851,490.00 (1.03%); Economic Planning and Budget sector N345,864,600.00 (0.56%).

Other are: Information and Communication N205, 380,210.00 (0.33%) and Social Development and Welfare N129,930,370.00 (0.21%) .

Reviewing the budget performance of the 2019, the governor said, the total expenditure of the budget realized within the third quarters of the year was N66,537,280,225. 45, representing 56.07 per cent of the N154 billion approved for the year.

 

This performance, according to him has made it critical for the government to redouble its efforts in generating revenue for effective implementation of the 2020 budget.

The governor said the administration was irrevocably committed to raising the standard of living of the citizens by ensuring judicious implementation of the budgetary provision.

He noted that the 2020 Draft Budget was crafted  based on the State of Osun Development Plan (2019-2028), Medium Term Sector Strategy (2020-2022), Thank You Tour Report and Department for International Development (UK-DFID) supported Citizens’ Need Assessment carried out in 30 Local Governments and one Area Office.

His words: “I stand to assure the good people of Osun that this administration will continue to pursue judiciously, the formulation and implementation of policies, programmes and projects that will bring about the restoration and the sustainable growth of our dear State as will be unfolded in the proposed Year 2020 Estimates.

“Since the 2020 draft Budget is in line with State of Osun Development Plans, 2019-2028, our major focus is to meet the yearnings of the good people of the state and the completion of the ongoing projects.

“It is indeed with a high sense of duty, therefore, that I present the appropriation bill for the 2020 fiscal year. I, therefore, acknowledge the maturity, discipline and patriotism behind your individual and collective conducts so far in your bid to uphold the tenets of democratic governance”, Oyetola said.

Earlier in his remarks, Speaker of the House of Assembly, Rt. Hon. Timothy Owoeye assured the people of the state of the readiness of the 7th Assembly to partner with Oyetola led administration to achieve all the goals and targets of taking the state to the next level of development.

He noted that the committees of the House will work assiduously to undertake effective oversight and ensure timely execution of government projects.

Owoeye who said the House will ensure and value money in the delivery of quality services to the people noted that the House will also work with civil society organizations to couch a budget performance index through a public budget monitoring system.

He noted that the presentation was a significant day for the state as the governor unfolds his administration’s plans on how the people’s socio-economic wellbeing will be achieved in the 2020 financial year.

He advised members of the executive to stay away from issues and actions that will cause division in the house.

 

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