Governor of Osun State, Gboyega Oyetola, on Tuesday presented N109.8 billion Appropriation Bill to the state’s House Of Assembly for consideration as the state’s budget for 2021 fiscal year.
Tagged “Budget of Providence”, the Governor said the budget was aimed at helping the state recover from the effects of COVID-19 and reposition the state on the path of sustainable growth.
Oyetola explained that the bulk of the government revenue for the year 2020 came from federation account allocations, stressing that efforts will be intensified to boost the state’s Internally Generated Revenue (IGR) in 2021 fiscal year and beyond.
For the youth population, the Governor unveiled a plan for youth Youth Empowerment, Youth Engagement, Youth Entrepreneurship and Youth Education (4Es).
Specifically, the Appropriation Bill estimated the recurrent expenditures at N50,620,283,140, representing 46 percent proposed share, while capital expenditures were projected at N59,234,768,500 or 54 percent of the year’s appropriation.
A further breakdown of the budget indicated that the education and health sectors got substantial shares as N10,711,328,430, representing 18.08 percent was allocated for education sector while health sector received N10,647,909,910, or 17.98 percent of the proposed budget.
In addition, N4,271,461,870 representing 7.21 percent was earmarked for infrastructure sector while Water and Sanitation sector got N4,220,446,550
According to the Bill, the sum of N3,404,734,560, or 5.75 percent was budgeted for agriculture sector; N1,134,043,200, representing 1.91 percent for Commence and Industry sector; N1,515,122,570, representing 2.56 percent for Governance and Administration; N173,035,800, or 0.29 percent of the budget was for Economic Planning and Budget sector; N167,247,560, or 0.28 percent for Environment sector; and N638,460,000, representing 1.08 percent for Social Development and Welfare sector.
The governor proposed N1, 487,110,159 or two percent of the proposed budget for youth-related activities.