Osun Budgets N150.7b

seal-of-the-state-of-osunOsun State Governor Rauf Aregbesola yesterday submitted a N150.7 billion budget proposal to the House of Assembly.

The Permanent Secretary, Budget and Economic Planning, Mr. Segun Olorunsogo, presented the budget on behalf of the governor.

The proposed budget size is 25.3 per cent less than the 2015 budget of N201.7 billion.

The draft had a recurrent expenditure of N82,744,396,580 representing 54.9 per cent and capital expenditure of N67,983,848,960.00, representing 45.1 per cent.

It has the recurrent revenue of N113,185,677,170 and capital receipt of N37,542,568,370.00.

The Deputy Speaker, Akintunde Adegboye, read the governor’s letter.

According to the letter, “The proposed budget reflected the economic realities of the state. The economic situation prevented the state from effective implementation of the 2015 budget.”