Osun House Passes Budget 2014 Into Law

Osun State House of Assembly yesterday passed the 2014 appropriation bill of N234,420,419 into law.

The budget revealed an increase of N18billion over what was initially presented to the assembly by the governor.

Governor Rauf Aregbesola  through his special adviser on budget and economic planning, Mr Bade Adesina, had on December 31, 2013 presented a budget estimate of N216billion to the assembly.

In the passed budget, the recurrent expenditure  stands at N99.7billion, representing 42.55 per cent while the  capital expenditure stands at N134.7billion, representing 57.45 per cent.

The recurrent revenue stands at N101.6billion, representing  43.34 per cent while the capital receipt stands at N132.8billion, representing  56.66 per cent.

Mr Kamil Oyedele, Chairman House Committee on Finance and Appropriation while moving a motion for  final reading of the bill said government must be revenue driven in the implementation of the budget.

He charged various House Committee to ensure that Ministries, Department and Agencies of government in their care improve on their Internally Generated Revenue for the successful implementation of the budget.

He explained that due to the dwindling allocation from the federation account, all hands must be on deck to improve on the state`s IGR.

In his remarks, Mr Najeem Salaam, the Speaker of the Assembly said the budget was increased to meet the yearning and aspiration of the people.

Salaam urged government to  embark on aggressive revenue generation towards the successful implementation of the budget.