Osun Assembly cuts 2020 budget to N82bn


By Olajide Idowu
Osogbo, July 24, 2020 The Osun House of Assembly on Friday passed a bill reducing the state’s 2020 budget from N119.55 billion to N82. 22 billion, the News Agency of Nigeria (NAN) reports

NAN reports that the Assembly received a letter from Gov. Gboyega Oyetola on Tuesday, requesting for the amendment of the state 2020 Appropriation Bill, reducing the budget of the state from N119 billion to N82 billion.

The governor explained in the letter that the reduction in the budget was due to the effect of COVID-19 on the global economy, which equally affected the Federal Government allocation and the state revenue.

In the letter, titled: ‘2020 Amended Appropriation Bill’, the governor noted that coronavirus had affected revenue generation variables of the state, saying that was why the state 2020 Appropriation Bill had to be reviewed downward.

While passing the bill for the third reading on Friday, the Speaker of the Assembly, Mr Timothy Owoeye, said the budget reduction marked 31.2 per cent reduction of the 2020 approved Appropriation Bill by the Assembly on Dec. 24, 2019.

Owoeye said that owing to the effect of COVID-19 pandemic outbreak on the global economy, it had become imperative for the state to review its budget.

He, however, appreciated the governor for considering the people of the state in the reviewed budget by voting N9.4 billion, which constituted 11.5 per cent of the amended budget, to fighting COVID-19 and the post-COVID-19 pandemic recovery activities.

This site uses Akismet to reduce spam. Learn how your comment data is processed.