Governor Rauf Aregbesola of Osun state has proposed a total of N173.9 billion as 2018 budget bill, saying that the fiscal estimates presented before State House of Assembly were meant to complete all ongoing developmental projects across the State.
Speaking at the budget presentation at the State House of Assembly witnessed by some federal lawmakers, stalwarts of the ruling All Progressive Congress (APC), monarchs and community leaders across the state, Governor Aregbesola said the goal for the 2018 budget bill is to ensure an improvement in the welfare and standard of living of the people.
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BusinessDay reports that the governor who will be concluding his second term tenure next year failed to give a detailed analysis of proposed expenditure for the year 2018, except for some carried over-analysis of debt profile.
Governor Aregbesola only puts a summary of the total arrears transferred to the Draft 2018 budget as budget surplus/deficit N-28.6 billion, liabilities, N22 billion, salary arrears N-22.8 billion, Pension and gratuity, N-6.7 billion and capital arrears (dredging/flood control) N-2.3 billion totalling N-38.5 billion.
But, the governor declared that the State would be expecting money to finance the budget from the Federation Account N27 billion forming 15.56%, Value Added Tax N8.8 billion (5.10%).
Others are Excess Crude Account N77.7 million (0.04%), other revenues from FAAC N5,052.6billion (2.90%), personal and corporate taxes are put at N25.1 billion (14.45%) and N9.7 billion (5.58%) respectively,
Expected form Licences is N1.5 billion (0.92%), General fees N20.8 billion (11.99%), General. Earnings N3.6 billion (2.55%), rent on government buildings and rent on lands and others at N335.7 billion (0.19%) and N279 billion (0.16%) respectively.
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Other sources are, repayment, investment income, interest earned, reimbursement, domestic aids, foreign aids, domestic grant and foreign grants
The governor put the total year expected receipt at N151.9 billion (87.34%), other sourced fund to finance specific projects are the internal source and external are N1.5 billion (0.86%) and external source N20.5 billion (11.80%” respectively.
The governor explained: “Our ultimate goal for the 2018 Budget is to ensure a continuous improvement in the welfare and standard of living of our people.
“This will be achieved by consolidating the previous achievements of this administration and do everything possible to recover the lost glory of the State.
“Thus, the 2018 budget has been carefully packaged to ensure the effective realization of our vision as encapsulated in our Six-Point Integral Action Plan. It is important to intimate this august Assembly that the preparation of 2018 Budget has been very participatory.”
BOLA BAMIGBOLA, Osogbo
