By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Governor Aregbesola Presents N150.7bn Budget Proposal For 2016 to Assembly
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Governor Aregbesola Presents N150.7bn Budget Proposal For 2016 to Assembly

Farouk Mohammed
By Farouk Mohammed
Published: December 15, 2015
Share
2 Min Read
SHARE

Aregbesola11

Governor Rauf Aregbesola of Osun State on Monday presented a budget proposal of N150.7 billion for the 2016 fiscal year to the state House of Assembly.

The Permanent Secretary, Budget and Economic Planning, Segun Olorunsogo, presented the proposal on behalf of the governor.

Olorunsogo said the financial document was in line with the six point integral plan of the government.

- Advertisement -

Olorunsogo told the House that N113.1 billion was for recurrent revenue, and N37.5 billion was for capital receipts.

He said personnel cost would take N33.3 billion, while N12.2 billion and N37.1 billion would be spent on overhead cost and consolidated revenue fund charges respectively.

The budget for capital expenditure was put at N67.98 billion, according to the Permanent Secretary.

He also said the budget was reviewed downward with a difference of 25.3 per cent against that of 2015.

- Advertisement -

He said the budget size for 2015 was N201.7 billion, a difference of about N51.01 billion to that of 2016.

Olorunsogo said the reduction was necessitated by the need to reflect the realities of the economic situation of Osun State and Nigeria in general.

He said: “The focal point of the 2016 Budget laid before the state House of Assembly today is the completion of ongoing projects on a priotised manner, based on available resources.

“The policy trust is on the continuation of the present administration’s commitment to the people of Osun as outlined in the six-point integral action plan and the green book.”

Olorunsogo promised that the budget would not be financed solely by revenue from the Federation Accounts due to dwindling price of crude oil in the global market, but through Internally Generated Revenue.

“Spirited efforts will also be made to block all revenue leakages while collection of revenue from new sources proposed in the budget will be pursued aggressively,” he said.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:House of AssemblyRauf Aregbesola
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Raymond Dokpesi Remanded in Prison Pending Fulfillment of N400m Bail Conditions
Next Article How Raymond Dokpesi Was Treated on Getting to Kuje Prison

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Olubunmi Tunji-Ojo
FG Hails Success of E-Visa System, Processes Over 14,000 Applications in Six Weeks
News
Google Releases June 2025 Core Update
Tech
NELFUND
NELFund Warns Students Against Fake Loan Portal, Urges Caution Over Fraudulent Links
Education
Tinubu and Saint Lucia’s Prime Minister Agree to Establish Formal Diplomatic Relations
International
Ali Bukar Dalori
Ali Bukar Dalori Assumes Role as APC Acting National Chairman After Ganduje’s Resignation
Politics
- Advertisement -
Ad imageAd image

You May Also Like

MI Abaga
Celebrities

MI Abaga Expresses Regret Over Past Support for APC

Damilola A.
Damilola A.
June 30, 2025
Senator Natasha Akpoti-Uduaghan
NewsTop stories

JUST IN: Court Grants Senator Natasha Akpoti-Uduaghan Bail on Self-Recognition

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
News

Anambra State Orders Investigation After Viral Video Shows Possible Anti-Touting Squad Excesses

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?