Tuesday, 15 December 2015

Osun State Governor, Rauf Aregbesola has presented the 2016
budget of N150.7 billion to the State House of Assembly for
consideration.
The budget was presented yesterday on behalf of the governor
by the Permanent Secretary, Budget and Economic Planning,
Mr Segun Olorunsogo at the plenary of the Assembly.
The proposed budget size is less by 25.3 per cent than the
2015 budget, which stood at N201.7 billion.
The draft had the recurrent expenditure of N82,
744,396,580.00 representing 54.9 per cent and capital
expenditure of N67, 983,848,960.00, representing 45.1 per
cent, while it has the recurrent revenue of N113,
185,677,170.00 and capital receipt of
N37, 542,568,370.00.
In a letter read by the Deputy Speaker, Akintunde Adegboye
who presided over the plenary notifying the Assembly on his
approval for the presentation of the budget, the governor said
the proposed budget reflected the economic realities of the
state and Nigeria in general.
He said the economic situation prevented the state from
effective implementation of the 2015 budget, saying this
would compel the state to be more pragmatic in its revenue
drive as the present situation could not cater for the revenue
plan of the state.
The governor urged the Assembly not to give consideration to
any Ministry, Department and Agencies of government
towards increasing the proposed budget figure due to
dwindling revenue available to the state.
He said his call to refuse budgetary inflation by the MDAs
was due to the fact that the budget has already been over
stretched.
Shortly after presenting the budget, Olorunsogo said the focal
point of the budget was on the completion of the on-going
projects embarked upon by the government.
T
o ensure high level of implementation and performance of the
budget, he said the Assembly would ensure non-reliance on
the revenue from the Federation Account.
Olorunsogo also said the state would renew its aggression in
the collection of IGR, especially, the revenue collectable from
the Ministries, Department and Agencies [MDAs] as well as
the informal sectors of the economy.
He added that the government would set up an all-inclusive
Revenue Monitoring Committee towards offering continuous
direction at ensuring improvement in revenue collection and
blockage of loopholes.

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