Gov. Gboyega Oyetola of Osun State has presented a budget proposal of N152,756,088,830.00 for the 2019 fiscal year to the state House of Assembly.
The budget tagged ‘The Budget of Hope’ puts the capital expenditure at N91,957,496,420.00 (65.43%) and the recurrent expenditure at N52,798,692,410 (34.57%)
Oyetola described the budget as a unique one since it was drawn from a carefully-crafted 10-year Development Document, whose implementation had commenced with the previous administration of former governor, Rauf Aregbesola.
Oyetola vowed to objectively and faithfully implement the Budget.
He thereafter sought people’s cooperation as the government embarks on the arduous task of transforming Osun into the State of Pride.
“This Budget is a product of the collective inputs of broad-based stakeholders, strategic thinking and world-class ideas on economic renewal and re-engineering.
“By its content and strategy, it is home-based, people-owned and 21st-Century-thinking propelled.
“By this strategy, the people have spoken and given direction on the way forward.
“This Budget of Hope is, therefore, a product of people’s hope. We shall put all measures in place to give life to the hope they expect.
“It is important to state that all the programmes and projects outlined and discussed in this presentation cannot be achieved by Government alone.
“I, therefore, seek the collaboration of the private sector, Development Partners, NGOs, Civil Society Organisations, among others, for better and effective implementation of this Budget,” the governor said.
He said government policies would be guided by the highest regard for the people.
He then appealed to the House of Assembly to give speedy consideration to the Budget proposal to ensure its earlier implementation in the new fiscal year.
The governor expressed his administration’s determination to set the state on the path of real and time-tested growth through unprecedented investment in the core sectors.
These include agriculture, mining, tourism, commerce and industry, infrastructure, education, health and technology – to sustainably drive our economy.
He said the State of Osun Economic Summit shall be held in the first quarter of next year to review the development blueprint with a view to come out with a policy document that will drive our policies.
“To achieve this, we shall employ strategic thinking and planning, which experts aver are drivers of sustainable development,” he said.
“The paradoxes of resource-challenged but prosperous nations like Israel and Malaysia, and resource-abundant but poor nations like ours, have proved beyond a doubt that prosperity and development answer more to focused and responsible leadership than abundant resources.
“The former paradox – the Israel and Malaysia example – not only offers but confirms our staunch belief that given the committed leadership this administration is bringing to the table and the unwavering, following we have been getting from the citizenry, the State of Osun is poised to set the pace in economic independence.”
Oyetola promised to put strategies in place to further promote food security, employment and wealth creation by investing heavily in agriculture, mining, infrastructure, commerce and industry, education and technology.
He also pledged to introduce creative and prudent management of the resources, block leakages and eliminate wastages.
“We will assemble the brightest of the best minds to drive our policies.
“We will provide equitable opportunities and people-oriented governance.”
He reiterated the government commitment to consolidate on the various ongoing projects and programmes by delivering on continuous investments in education, healthcare and social welfare.
Responsding, the Speaker of the House, Mr Najeem Salaam, commended the budget for prudence and for prioritising capital over recurrent expenditure, as well as living beyond the means of the nation’s resources.
He promised, on behalf of other colleagues, to resume early in January to ensure speedy but thorough passage of the Budget.