The Governor of Osun State, Senator Ademola Adeleke has presented a sum of N273,908,997,410.00 as a proposed budget for the year 2024 fiscal year.
The budget, which was tagged ‘Budget of Reconstruction and Recovery’, was presented before the state House of Assembly on Thursday.
He said N165,654,976,700.00 was for recurrent expenditure while the sum of N108,254,020,710.00 was for capital expenditure.
Adeleke said that it was a reflection of the focus of his administration to rebuild the battered state that he inherited.
The governor also said the budget was a sign that his administration was targeting recovery after successful revamping of all sectors of the state.
He assured the lawmakers of his administration’s will and determination to ensure the achievement of budgetary goals once the proposal was passed into the Appropriation Act.
“I am highly delighted to present to you and honourable members of the Assembly, the 2024 draft Budget tagged “BUDGET OF RECONSTRUCTION AND RECOVERY” in the sum of Two Hundred and Seventy- Three Billion, Nine Hundred and Eight Million, Nine Hundred and Ninety -Seven Thousand, Four Hundred and Ten Naira (N273,908,997,410.00).
“This figure is made up of recurrent expenditure of One Hundred and Sixty – Five Billion, Six Hundred and Fifty – Four Million, Nine Hundred and Seventy – Six Thousand, Seven Hundred Naira (N165,654,976,700.00) and capital expenditure of One Hundred and Eight Billion, Two Hundred and Fifty – Four Million, Twenty Thousand, Seven Hundred and Ten Naira (N108,254,020,710.00).
“The tag for this budget reflects our current focus of rebuilding the battered state we inherited.”
In his remarks, the Speaker, Osun State House of Assembly, Adewale Egbedun, commended Adeleke for constant engagement with the people through impactful policies and programmes.
Egbedun assured that the lawmakers would work diligently to ensure timely passage of the bill, while also carrying out oversight functions to ensure that public funds were utilized efficiently for maximum benefit of the people.
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