Toba Owojaiye reporting
Osogbo, Nigeria
Osun State Governor, Senator Ademola Adeleke, presented the proposed 2025 budget totaling Three Hundred and Ninety Billion, Twenty-Eight Million, Two Hundred and Seventy-Seven Thousand, Seven Hundred and Forty Naira (₦390,028,277,740) to the Osun State House of Assembly on Wednesday.
Truth Live News gathered that this presentation took place during an annual event hosted by the House Speaker, Right Honourable Adewale Egbedun, and attended by lawmakers and members of the State Executive Council.
Governor Adeleke outlined the allocation of the proposed budget, emphasizing a balance between capital projects and recurrent expenses. The budget comprises:
Capital Expenditure: ₦144,231,183,800
Recurrent Expenditure: ₦245,797,093,940
Breaking down the recurrent expenditure, the governor disclosed:
Personnel Costs: (salaries, allowances, pensions, and gratuities) ₦102,895,821,010
Remaining Expenditure: ₦142,901,272,930
Revenue Sources
Governor Adeleke provided details on the revenue sources anticipated to fund the budget, including:
FAAC Revenue: ₦196,778,975,180
Independent Revenue: ₦109,870,932,830
Development Partner Receipts: ₦53,377,244,610
Achievements and Future Goals
The governor highlighted significant achievements in multiple sectors since his administration took office. Key accomplishments include:
Healthcare: Reduced the rural health access gap by 40% with the rehabilitation of over 200 primary healthcare centers, expanding healthcare access to pensioners from under 10% to 90%.
Infrastructure: Halved the road infrastructure deficit from 80% to 40% and achieved a 40% improvement in rural infrastructure, with over 300 rural projects completed.
Agriculture: Increased agricultural mechanization from 0% to 35%.
Digital Economy and Climate: Established foundational digital economy policy (55%) and climate agenda (over 70%).
Education: Advanced Ilesa University from 15% completion to over 90%, redeveloped Odeomu Cooperative College to offer Higher National Diplomas, and launched a bursary program.
Financial Prudence: The administration has managed to improve state financial support for cooperative societies (60%), liquidated 40% of inherited salary debts, and paid off 35% of inherited pension debts—all without taking any new loans.
Budget Increase and Economic Plans
The proposed 2025 budget marks an increase from the previous year, which Governor Adeleke justified as necessary to build upon the economic gains made in 2024. He emphasized a commitment to boosting the state’s internally generated revenue, curbing financial leakages, and managing resources prudently to address the needs of Osun residents.
“We rely solely on the prudent management of available resources to meet the yearnings and aspirations of the good people of Osun State,” Governor Adeleke assured the Assembly, promising to stay committed to these goals.
This proposed budget reflects the administration’s aim to consolidate growth, enhance fiscal responsibility, and position Osun State on a sustainable development path.