Osun State Governor Ademola Adeleke has presented a detailed budget proposal for 2025, outlining a total appropriation of N390.03 billion for the state’s development and operational needs. The proposal, submitted to the Osun State House of Assembly, allocates significant funds for both capital and recurrent expenditures as the state plans for future growth.
During his presentation on Wednesday, Governor Adeleke highlighted key aspects of the budget breakdown, proposing N144.23 billion for capital expenditures, which will fund critical infrastructure and development projects. In addition, he allocated N245.80 billion toward recurrent expenditures, ensuring that the state’s operational and administrative needs are sustainably met.
A statement from Olawale Rasheed, the Governor’s spokesperson, further explained the revenue sources expected to support this budget. The Governor disclosed that the state’s income is projected to be a mix of federal allocations and internally generated revenue.
Specifically, the budget is supported by “Recurrent Revenue, including the government’s share of FAAC, which stands at N196.78 billion, and Independent Revenue of N109.87 billion.”
Additionally, the Governor anticipates further financial support from development partners, projecting receipts from these partnerships at N53.38 billion. This external funding is seen as essential to the realization of various capital projects aimed at boosting Osun’s socio-economic development.
“We will continue to prioritize capital projects for the benefit of our people and the socio-economic development of our dear state,” said Governor Adeleke, reaffirming his commitment to advancing infrastructure and services for the citizens of Osun.
