Gov. Rauf Aregbesola of Osun, on Tuesday presented the 2015 state budget of N197.08 billion to the House of Assembly for confirmation. The News Agency of Nigeria (NAN) reports that the budget was tagged: “Budget of renewed hope’’.
Mr Segun Olorunsogo, the Permanent Secretary, Office of Budget and Economic Planning, presented the budget on behalf of the governor. Aregbesola said that the budget would ensure the completion of ongoing projects, and commencement of new ones that would bring about positive impact on socio- economic life of the citizens in Osun. The governor said that the sum of N131. 8 billion was estimated for revenue component, while the capital expenditure was N65. 3 billion amounted to N197. 080 billion. “The recurrent revenue is N131. 8 billion and the Capital receipt was N65, 340 billion, which brought about the total sum as indicated,’’ he said. According to him, “the budget presented was in compliance with the acceptable international standard and best practice.’’ Break down of the budget showed that the economic sector received the lion share of N41. 6 billion, while the Social Service Sector received N21. 6 billon.