Adeleke says Osun 2025 budget aims at achieving sustainable growth, transformation

The Osun State Government has said that the 2025 budget aims at achieving sustainable growth and transformation through strategic investments in key sectors, including education, health, infrastructure, agriculture, and youth and women empowerment.

Moruf Ademola Adeleke, Professor and Commissioner for Economic Planning, Budget and Development made this known while presenting an analysis of the budget to journalists at the Government Secretariat on Thursday.

Governor Ademola Adeleke had presented the budget proposal to the Osun State House of Assembly on November 13, 2024, which was subsequently passed on December 23, 2024, and signed into law on December 30, 2024.

The 2025 budget tagged “Budget of Sustainable Growth and Transformation”, stood at ₦427.7 billion.

Adeleke explained that the recurrent expenditure stand at ₦236.2 billion, representing 55% of the total budget, while capital expenditure is ₦191.5 billion, representing 45%. Personnel cost is estimated at ₦102.9 billion, which is 24% of the total budget.

He stated further that, “the other recurrent expenditure which is made up of Non-debt ofN104.301,449,660.00 billion and service of the previous Administrations’ debt amounting to N29.05 billion, which give a total of N133.3 billion. representing 31% of the total budget size. The capital expenditure is N191.5 billion which constitutes 45% of the total budget size.”

Giving a further breakdown of the budget, the Commissioner said that the N251.6billion from Federation Accounts Allocation Committee (FAAC) consisting of Statutory allocation, Value Added Tax, Exchange Rate Gain, Ecological Fund, Electronic Money Transfer Levy and other revenue from FAAC, N 109.8 billion from Internally Generated Revenue (IGR), N36.2 billion from other capital recepts as well as N30.01 billion being the estimated Opening Balance are expected to make up the total inflow expected as revenue to the State.

He however added that the 2025 budget was predicated on Government policies and influenced by macro-economic variables such as inflation rate, GDP growth rate, exchange rate, oil price, as well as the citizens’ needs, leading to a significant upsurge of 56% as against the 2024 budget.