Gboyega Oyetola, 5th Executive Governor, State of Osun has presented his administration’s first appropriation Bill to the Osun State House of Assembly. Exactly a month after his inauguration on 27th December, 2018
The Governor on Thursday presented the state’s budget for 2019 fiscal year to the tune of N152, 756, 088, 830.00
The budget , which was tilted the “Budget of Hope” has recurrent N15,870,175,600.00 10.39 while N91,957,496,420.00 65.43 capital expenditure.
Presenting the budget, Governor Oyetola described the 2019 budget as a unique one because it is drawn from a carefully-crafted Development Document.
Oyetola who vowed to objectively and faithfully implemented the Budget also , appealled to the people of the state
continue to cooperate with his government in the arduous task of transforming the State into a State of pride.
He said: ” this Budget is a product of the collective inputs of broad-based stakeholders, strategic thinking and world-class ideas on economic renewal and re-engineering. By its content and strategy, it is home-based, people-owned and 21st-Century-thinking propelled. By this strategy, the people have spoken and given direction on the way forward. This Budget of Hope is, therefore, a product of people’s hope. We shall put all measures in place to give life to the hope they expect.
“It is important to state that all the programmes and projects outlined and discussed in this presentation cannot be achieved by Government alone. I therefore seek the collaboration of the private sector, Development Partners, NGOs, Civil Society Organizations, among others, for better and effective implementation of this Budget. ”
“Our activities will be guided by the highest regard for the people. I, therefore, implore all the good people of the State of Osun to pray for the success of our administration in 2019.”
“Finally, I wish to appeal to our dear Honourable Members of the House of Assembly to give, as usual, speedy consideration to the Budget proposal so that its implementation can commence early enough in the new fiscal year.”
“We are determined to set the State of Osun on the path of real and time-tasted growth through unprecedented investment in the core sectors – agriculture, mining, tourism, commerce and industry, infrastructure, education, health and technology – to sustainably drive our economy.”
“To achieve this, we shall employ strategic thinking and planning, which experts aver are drivers of sustainable development. We shall hold The State of Osun Economic Summit in the First Quarter of next year to review our development blueprint with a view to coming out with a policy document that will drive our policies. ”
“In spite of the biting country-wide economic dire straits and uncertainties, the State of Osun is still standing and gradually matching toward the path of development. It is evident that with patience on the part of our people and the doggedness on our part, the people of the State of Osun shall smile again.
The paradoxes of resource-challenged but prosperous nations like Israel and Malaysia, and resource-abundant but poor nations like ours, have proved beyond a doubt that prosperity and development answer more to focused and responsible leadership than abundant resources”.
“The former paradox – the Israel and Malaysia example – not only offers but confirms our staunch belief that, given the committed leadership this Administration is bringing to the table, and the unwavering following we have been getting from the citizenry, the State of Osun is poised to set the pace in economic independence. ”
“We shall put strategies in place to further promote food security, employment and create wealth by investing heavily in agriculture, mining, infrastructure, commerce and industry, education and technology. We shall also introduce creative and prudent management of our resources, block leakages and eliminate wastages. We will assemble the brightest of the best minds to drives our policies. We will provide equitable opportunities and people-oriented governance. ”
We are committed to consolidating on the various ongoing projects and programmes by delivering on the following: Continuous investment in education, healthcare and social welfare;
Unwavering attention to security of lives and property; People-oriented and good governance system that is founded on zero tolerance for corruption;
Rebuilding, maintaining, and expanding infrastructure in water supply, electricity and road networks and to accelerate economic growth and job creation;
Promoting agriculture and food security and reform of land administration as bases for wealth creation and capital formation, while preserving and enhancing environmental management.
“The 2019 Budget which I am presenting today is the 28th Annual Budget since the State was carved out of the old Oyo State on 27th August, 1991.”
Reading the Governor’s budget presentation , the speaker of the House, Rt Honourable Najeem Salaam said that the presentation of the 2019 budget was significant being the first time that the Governor will perform such an exercise as the head of the executive
SUMMARY OF THE DRAFT 2019 ESTIMATES
Description Budget 2019 (N)
Percentage to Total (%)
SUMMARY OF THE DRAFT 2019 REVENUE EXPENDITURE BY SECTORS
Budget 2019 (N)
Percentage to Total Revenue (%)
Value Added Tax (VAT)
Excess Crude Oil
Other Revenue from FAAC
Licences – General
Fees – General
Fines – General
Sales – General
Rent on Government Buildings – Beneral
Rent on Land & Others – General
Total Projected Funds Available
(iii) SUMMARY OF THE DRAFT 2019 CAPITAL EXPENDITURE
Budget 2019 (N)
Percentage to Capital Expenditure (%)
Budget, Planning and Revenue Mobilization Sector
Commerce and Industry Sector
Governance and Administration Sector
Information and Communication Sector
Security Law and Justice Sector
Social Development and Welfare Sector
Water and Sanitation Sector
Total Capital Expenditure