Osun Assembly passes 2020 revised budget, as COVID-19 gets N9.4bn

By Damilola Oni

The Osun State House of Assembly today passed into law a revised 2020 budget of N82.23 billion.

The Speaker of the Assembly, Timothy Owoeye, announced the passage after a motion by Bayo Olodo for the passage of the 2020 Appropriation amendment bill into law.

Owoeye said the passage was necessary in order to cushion the effect of COVID-19 pandemic which has held the economy of the state.

“Out of the sum of N82,229,070,760.00 approved for year 2020, the sum of N9,442,503,260.00 which is 11.5 percent shall be dedicated to fighting COVID-19 and post-COVID-19 recovery activities.”

“Therefore, all programmes of government have been streamlined. The need to focus the state’s priorities toward management and recovery from the pandemic was a major factor in reviewing the budget.”

The Speaker pointed out that the sum of Forty one Billion, six hundred million, Eight hundred and Eighty thousand, seven hundred and twenty Naira only (N41,600,880,720.00) has been appropriated for recurrent expenditure from the consolidated Revenue.

He also added that the sum of Forty billion, six hundred and twenty eight million, one hundred and ninety thousand, forty Naira (N40,628,190,040.00) was appropriated for capital expenditure.

He said the revised budget has been designed to ensure that small and medium scale establishments affected by COVID-19 get some relief to enable them stay afloat.

The speaker commended the House Committee on Finance and Appropriation led by Honourable Bayo Olodo and other members for their commitment in ensuring that the bill sees the light of day.

The State Assembly had on the 24th December 2019, passed a budget of N119.55b but has to be amended due to the the current global pandemic affecting the economy.

It would be recalled that on Monday, Governor Gboyega Oyetola transmitted amended 2020 appropriation bill to the Assembly for consideration and approval due to the effect of coronavirus on the economy.

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