The Osun State Government has allocated N178,446,092,830 from the N427,746,925,170 budgeted for 2025 to the state’s infrastructure, education, commerce, and agriculture sectors.
The infrastructure sector is allocated N109,013,646,780, the education sector N57,451,429,850, commerce and industry N4,818,903,350, while the agriculture sector receives N7,162,112,850.
Investors King gathered that the Osun State Governor, Ademola Adeleke, had initially submitted a proposed budget of N390,028,277,740 to the Osun State House of Assembly but the amount was later increased by N37,718,647,430 to N427,746,925,170.
Speaking at the 2025 budget analysis held at the finance building, Abere, the Commissioner for Economic Planning, Budget, and Development, Professor Ademola Adeleke, revealed that the budget would be funded through the Federal Account Allocation Committee (FAAC), Internally Generated Revenue (IGR), and other sources.
According to him “Of this amount, N251,670,167,990.00 is expected to come from the 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.
“N109,870,932,830.00 is expected from Internally Generated Revenue (IGR), while N36,204,699,230.00 will come from other capital receipts, as well as N30,001,125,120.00 being the estimated opening balance. All these make up the total inflow expected as revenue to the state.
“In the same vein, the recurrent and capital expenditures stand at N236,197,782,900.00 and N191,549,142,270.00, at a ratio of 55% to 45%, respectively.”
He further disclosed that about N102,895,821,010 or 24% of the budget is earmarked for salaries, allowances, salary arrears, social contributions, and social benefits for personnel.
In his words “Having considered the minimum wage, the personnel cost, which forms part of the recurrent expenditure, was estimated at One Hundred and Two Billion, Eight Hundred and Ninety-Five Million, Eight Hundred and Twenty-One Thousand, Ten Naira (N102,895,821,010.00), comprising salaries, allowances, salary arrears, social contributions, and social benefits.”
While highlighting other budget allocations, Adeleke revealed that governance is allocated N59 billion, human capital N46 billion, the health sector N31 billion, culture and tourism N6 billion, and the economic planning and budget sector N4 billion, among others.
