The Osun State Governor, Adegboyega Oyetola, on Thursday, presented the ‘Budget of Restoration’ for 2020 at the state House of Assembly.
Oyetola, who spoke at the presentation which was attended by ex-deputy governor, Grace Titi Laoye-Ponle; and Sooko Adeleke Adewoyin, among others, said the 2020 budget amounted to N119,5bn.
The allocation is less than the 2019 appropriation of N154,406,541,400, which the governor said was prepared based on State of Osun Development Plan 2019 to 2028 and other relevant documents.
Oyetola explained that actual revenue recorded in the outgoing year fell short of the projected revenue and that the development was an indication that the state must do more to improve its internally generated revenue.
Doing a sectoral review of the 2020 budget, Oyetola said, the Finance and Revenue Mobilisation Sector had the highest appropriation of N23,976,673,840 representing 38.7 per cent of the total budget.
Oyetola assured the House that the budget would be judiciously implemented when passed into law.
Earlier, the Speaker, Mr Timothy Owoeye, said implementation of the budget was important to the lawmakers, adding that the committees of the House would work hard to undertake effective oversight and ensure timely execution of government projects.