The Osun State legislators have approved the Year 2010 Appropriation Bill into law. Atotal sum of N114, 489, 750, 324 was passed as the total expenditure for the government of Osun State for the fiscal Year 2010.
The amount is an increase from the figure presented by the Governor Olagunsoye Oyinlola who had proposed N113,832,540,750.
Passing the reviewed budget into law, the Speaker, Hon. Adejare Bello charged the governor to ensure timely release of funds for capital projects. He pointed out that the Assembly will not entertain any excuse from any agency that fails to perform up to expectation. Hon. Bello said the House has done its bit by ensuring the passage of the budget before the end of the outgoing year.
A total of N73, 833,531,520:00 was approved as capital expenditure while N40, 656,218,804 was approved for recurrent expenditure.
Presenting the report of the House Committee on Finance and Appropriation in respect of the budget, Hon Farombi recommended that agencies of government be made to pursue effectively the revenue targets already set for them. He explained that the increase in the budget size occasioned by “the need to give some agencies the wherewithal to generate more revenue and take care of critical areas where the House believes that more fund is required.”
