Osun: Adeleke unveils N390bn 2025 budget

By Deborah Oladejo, Osogbo

Osun State Governor, Ademola Adeleke, has presented the proposed 2025 budget, totaling N390.028 billion.

Adeleke explained that the budget is driven by the need to rebuild Osun’s economy and infrastructure and provide a fiscal response to the global economic downturn. He noted that this will be Osun State’s 34th annual budget since its creation from Old Oyo State on August 27, 1991.

The 2025 budget aligns with the state’s Financial Management Reform and Fiscal Sustainability Plan (FSP), ensuring that its implementation will begin on January 1, 2025.

The budget allocates N144.231 billion for capital expenditures and N245.797 billion for recurrent expenditures. Personnel costs, including salaries, allowances, pensions, and gratuities, amount to N102.895 billion, with the remaining N142.901 billion designated for other recurrent expenses.

Revenue projections include N196.778 billion from the Federation Account Allocation Committee (FAAC), N109.870 billion from independent revenue sources, and N53.377 billion from development partners.

Adeleke highlighted his administration’s 2024 achievements, including a 40% reduction in the rural healthcare access gap, raising healthcare access for pensioners from less than 10% to 90%, and closing the road infrastructure gap by 50%.

Other key advancements include increasing agricultural mechanization from 0% to 35%, building digital economy infrastructure from 0% to 55%, and boosting local content from 0% to 75%.

The governor also noted that financial support for cooperative societies grew from 0% to 66%, with ward-level cooperatives expanding from 0% to over 60%. Additionally, Ilesa University’s development has surpassed 90% completion, and Odeomu Cooperative College has been upgraded to an institution offering HND programs.

Further accomplishments include expanding Google map coverage in Osun from 20% to 65%, introducing phased bursary awards (now at 40%), reducing inherited salary debt by 40%, and improving school infrastructure by more than 40%.

Governor Adeleke emphasized his commitment to prudent resource management, stating that his administration has not taken on any external or domestic loans. He pledged to complete ongoing projects and to initiate new ones for the continued growth of the state.