The Osun State governor, Rauf Aregbesola, has presented a multi-billion naira budget to the Osun State House of Assembly for ratification as regarding the next fiscal year.
The budget which was presented by the Permanent Secretary, Budget and Economic planning, Mr Segun Olorunsogo, on behalf of the governor estimated N75,823,942,160.00 which is 54.85 percent of the total budget to be spent on recurrent expenditure and N62,409,004,510 which is 45.15 percent of the total budget to be spent on capital expenditure while recurrent revenue of N105,090,868,130 was estimated as well as capital receipts estimate of N33,142,078,540.00..
The 2017 fiscal year budget which was presented to the Osun State law makers during their plenary on Wednesday was to favour economic sector of the state to the tune of N24, 911,168,470 in an effort to revive the economic sector of the state as the budget was tagged recovery budget. A strong consideration was also given to the food production sector of the economy as the focus of the government is “provision of of enabling environment that will ensure increase in food production”.
While presenting the budget to the law makers, Mr Olorunsogo explained that the government of Ogbeni rauf Aregbesola is ready to explore every internal revenue generation sources available to it and block every leakage in the purse of the government.
The speaker of the house, Rt. Hon. Najeem Salam, while receiving the budget commend the administration of Governor Rauf Aregbesola on his hard works of formulating live improving policies and re affirms that the lawmakers will support the good work of the governor to guaranty the progress of the state.
He however emphasized that the Osun State house of assembly will vet the budget accordingly.