April 17, 2024

Osun State Government has given down the breakdown of the recently signed 2024 budget, stating that infrastructure sector takes up to 20.9% of the total budget.

Giving the breakdown on Wednesday at the inter-ministerial press briefing, Commissioners for Finance, Sola Ogungbile; Budget and Economic Planning, Moruf Adeleke and Information, Kolapo Alimi, revealed that the about N274bn budget has 59.9% recurrent and 40.1% capital expenditures.

Ogungbile proposed 104bn from the Internally Generated Revenue while it expects N99bn from the Federation Account and N54bn from the Capital market receipt. The opening balance according to the breakdown was N15bn.

Osun Govt to service debt with B
N27.6bn in the year 2024, while N54bn was allocated for overhead. Salaries and wages to gulp N45.8bn and pension and gratuity got N36.5bn.

The sectoral breakdown of the Capital expenditure has N3.1bn for agriculture, education sector got budgetary allocation of N17.5bn; N5.5bn for health and N2bn for solid minerals.

Alimi said the breakdown is necessary to avoid “wrong insinuations going on in some section of the media and as part of accountability and transparency policies of Governor Ademola Adeleke.”

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