Aregbesola Presents N197bn 2015 Budget To Osun Assembly

timthumb (1)Osun State governor Rauf Aregbesola yesterday presented the 2015 budget estimate of N197,080,191,560.00 to the State House of Assembly for consideration and approval.

The estimate tagged “Budget of Renewed Hope”, is less than that of the current year which is N234billion.

The Capital Expenditure is N110 billion while the total recurrent expenditure is N87 billion, with the economic sector, covering agriculture and rural development, rural/urban electrification, commerce, industry, finance and transportation taking the largest chunk of N41.6 billion.

The total recurrent revenue is N132 billion, while the capital revenue is N65 billion.

Presenting the budget before the assembly, the governor who was represented by the permanent secretary, Office of Budget and Economic Planning, Mr Segun Olorunsogo, said the budget would consolidate the various achievements made in the last four years to transform the state.

The governor explained that the budget would also ensure the completion of ongoing projects and commencement of new ones that will have positive impact on the socio-economic life of citizens of the state.

Receiving the budget, the speaker, Mr Najeem Salaam said the House would do justice to the budget and make necessary adjustments, either upward or downward, if the need arises before it is passed.

He called on the people of the state to exercise patience, noting that the financial challenges being faced now is due to paucity of funds arising from the consistent drop in the allocation from the federation account.