The Osun State Government has given a breakdown analysis of the 2025 fiscal year budget.
According to the commissioner for Budget and economic planning, Prof. Maruf Ademola Adeleke at a press briefing at the Ministry of the finance, the increment of the 2025 budget was a necessity to accomodate the needs of the residents of the state.
The Budget which was tagged “Budget of Sustainable Growth and Transformation,” the budget aims to fast-track the revitalization of various sectors of the state economy”.
The commissioner stated that “the total budget of “N427,746,925,170” for the 2025 fiscal year, According to the budget breakdown, “N251,670,167,990” is expected to come from the Federation Accounts Allocation Committee (FAAC), while “N109,870,932,830” is expected from Internally Generated Revenue (IGR). Other capital receipts will contribute “N36,204,699,230,” and the estimated opening balance is “N30,001,125,120.”
“The recurrent expenditure stands at “N236,197,782,900,” while the capital expenditure is “N191,549,142,270” at a ratio of 55% to 45% respectively. Personnel cost, which includes salaries, allowances, and social benefits, is estimated at “N102,895,821,010,” representing 24% of the budget size.
“The sectoral allocation includes: Governance and Administration “N42,093,830,000” for personnel, “N33,914,800,000” for overhead, and “N9,700,000” for capital expenditure.
“Agriculture: “N720,000,000” for personnel, “N9,800,000” for overhead, and “N2,104,841,000” for capital expenditure.
“Education: “N16,000,570,130” for personnel, “N957,069,330” for overhead, and “N3,129,500,000” for capital expenditure.
“Health: “N1,403,814,040” for personnel, “N245,407,090” for overhead, and “N258,970,530” for capital expenditure.
“Infrastructure: “N1,020,794,880” for personnel, “N100,100,001,800” for overhead, and “N200,820,000” for capital expenditure.
Prof. Maruf stated that the state wants to ensure a more stable revenue stream, and machineries will be put in place to ensure proper implementation and enforcement of the 2025 Budget.
