The Governor of Osun state, Alhaji Gboyega Oyetola has presented the 2020 budget of N119,550,401,040 to the state House Assembly.
Tagged Budget of Restoration, the estimate has N57,674,993,990, representing 48.24 percent as recurrent and N61,875,407,050, representing 51.76 percent as capital budget.
The Total revenue projections for the year is N119,550,401,040.
Reviewing the budget performance of the 2019, the governor said, the total expenditure of the budget realized within the third quarters of the year was N66,537,280,225. 45, representing 56.07 per cent of the N154 billion approved for the year.
This performance, according to him has made it critical for the government to redouble its efforts in generating revenue for effective implementation of the 2020 budget.
He noted that the budget was crafted based on the state Development Plan (2019-2028), Media Term Sector Strategy and Citizens Need Assessment carried out in the state among others.
Oyetola who vowed to do everything within his reach to ensure every citizens enjoy dividend of democracy said his administration is poised to continue with already laid down giant stride in massive infrastructural development by his predecessor.
He promised to complete all the all the ongoing projects , just as he vowed to open up Access roads to evacuate agricultural produce, rehabilitate existing roads and maintain urban and rural roads.
On education, Oyetola who described education education as a veritable tool for librating the human mind from ignorance and unnecessary and preventable slavery, said his administration is committed to the promotion of functional education in the state.
In his address, Speaker of the Assembly, Timothy Owoeye described the budget as a report of purpose, saying, the budget that would be passed would be a proof of the Assembly’s priorities and an indication of the principles of the legislature.
According to him, the goal of the current Assembly is to place the economy on the path to sustainable growth, poverty elimination and economic opportunity.
He said, the Assembly will speedily assist the executive in the area of economic legislation and ease of doing business.
Noting that the implementation of the budget is more important to the Assembly, he said the committees of the house will work assiduously to undertake effective oversight and ensure prudence and value for money.