Osun state governor, Gboyega Oyetola, Thursday presented N119, 550, 401,040 Budget of Restoration to the state Assembly for the 2020 fiscal year.
The governor in his speech disclosed that his administration would take the state to a new height through mining. To this end, he said 12,000 artisanal miners have been registered.
“The federal government has set up Presidential Artisanal Mining Initiative, with Osun and Kebbi as the two pilot states. So far, we have registered 12,000 artisanal miners. Our intention is to use the mining sector, agriculture, culture and tourism and ICT and innovation to change the fortune of our state for the better,” he said.
The summary of the capital expenditure showed that finance and revenue mobilisation sector and infrastructure were allotted the highest of 38.75per cent and 15.06per cent respectively. It was followed by education and health sectors with 10.53per cent and 6.97 per cent respectively.
Personnel takes N36,465,191,230.00 (30.50%); overhead has N20,009,802,760.00 and consolidated revenue fund takes N1,200,000,000.00. Recurrent expenditure was put at N57, 674,993, 990.00 while the capital expenditure was put at N61, 875, 407,050.00.
He recalled that N154, 406,541,400 was approved in 2018 while the total revenue collected from all sources was N66, 216, 087,730.71. The total IGR of the state, according to Oyetola, was N13,858,848,008.53.
“The analysis of the implementation of the 2019 budget reveals that the actual revenue collected from January to September, 2019 fell short of the projected revenue by a very wide margin. It is very glaring from the presentation that the bulk of the State’s total revenue for the period was received from the Federation Accounts. The implication f this is that the state must redouble its efforts in our bid to improve our IGR.
In his remark, the Speaker, Sunday Owoeye, promised that the legislators will support the government to ensure the success of the economic planning summit.
He said the MDAs should be informed that the implementation of the budget is more important to the 7th assembly, promising that the committees would work assiduously to undertake effective oversight and ensure timely execution of projects.
“Let me assure the people of Osun of the readiness of the members of the 7th assembly to partner with the Isiaka Gboyega Oyetola administration to achieve all the goals and targets of taking Osun to the next level of development and prosperity,” he said.No tags for this post.