The Osun State government has set an ambitious Internally Generated Revenue (IGR) target of N109.8 billion to help fund its N427 billion “Budget of Sustainable Growth and Transformation” for 2025.
Thank you for reading this post, don't forget to subscribe!Commissioner for Economic Planning, Budget, and Development, Prof. Moruf Adeleke, revealed this during the budget’s analysis in Osogbo. He stated that the state expects to generate N109.8 billion internally and secure an additional N251 billion from the Federation Account. Capital receipts are estimated at N36 billion, with an opening balance of N30 billion contributing to the budget financing.
Budget Breakdown
• Recurrent Expenditure: N236 billion (55% of the budget), including:
• N102 billion for personnel costs (24% of the total budget).
• N29 billion to service debts from the previous administration.
• Capital Expenditure: N191 billion (45% of the budget), with allocations as follows:
• N106 billion for infrastructure development.
• N27.5 billion for education.
• N6.6 billion for health.
• N6 billion for water and sanitation.
Prof. Adeleke emphasized the government’s commitment to ensuring strict monitoring and implementation of the budget to meet developmental targets. He urged citizens to cooperate with revenue-generating agencies and stressed the importance of enforcing measures to block revenue leakages.
“By implementing these strategies, Osun State can create a more reliable and sustainable source of income to finance the 2025 budget,” he added.
The government aims to leverage this framework to drive sustainable growth and transformation across key sectors.
