TUNDE ADELEKE, Osogbo
The Osun State Government has allocated N166,465,076,630 from the N427,746,925,170 budget for 2025, to bolster the infrastructural and educational sector of the state.
This was disclosed by the Commissioner for Economic Planning, Budget and Development, Professor Ademola Adeleke, at the 2025 budget analysis, held at the finance building, Abere on Thursday.
Adeleke noted that the budget will be funded through the Federal Account Allocation Committee (FAAC), Internally Generated Revenue (IGR), among others.
According to him, “Of this amount, N251,670,167,990.00 is expected to come from the Federation Accounts Allocation Committee (FAAC) consisting of Statutory allocation, Value Added Tax, Exchange Rate Gain, Ecological Fund, Electronic Money Transfer Levy and other revenue from FAAC.
“N109,870,932,830.00 is expected from Internally-Generated Revenue (IGR), while N36,204,699,230.00 from other capital recepts as well as N30,001,125,120.00 being the estimated Opening Balance. All these make up the total inflow expected as revenue to the State.
“In the same vein, the Recurrent and Capital Expenditures stood at N236,197,782,900.00 and N191,549,142,270.00 at a ratio of 55 per cent to 45 per cent, respectively.”
While highlighting the breakdown of the budget, Adeleke revealed that Governance gets N59,162,169,140, human capital gets N46,981,263,870, health sector gets N31,243,696,200, Agriculture gets N7,162,112,850, culture and tourism have N6,255,970,530 and among others.
Daily Champion reports that the Osun State Governor Ademola Adeleke signed into law a budget of ₦427,746,925.170 for 2025.
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