Osun Assembly passes N723.45bn ‘Budget of Economic Transformation’

The Osun State House of Assembly has passed the 2026 Appropriation Bill, tagged the Budget of Economic Transformation, with a total outlay of N723,454,988,670.00. 

The passage followed comprehensive deliberations and legislative scrutiny during Wednesday’s plenary session in Osogbo.

During the debate, lawmakers examined the proposals to ensuring alignment with the developmental priorities and socio-economic needs of the state. 

The approved budget comprises a recurrent expenditure of N320,774,356,310.00 and a capital expenditure of N402,680,332,360.00.

A breakdown of the revenue estimates shows an opening balance of N16.19 billion, recurrent revenue of N421.25 billion, and capital receipts projected at N286.01 billion, culminating in the total inflow of N723.45 billion. 

On the expenditure side, N135 billion is earmarked for personnel costs, while N185.7 billion is allocated for other recurrent expenses.

Speaking after the passage of the bill, the Speaker of the House, Rt. Hon. Olumide Egbedun, noted that the budget reflects the yearnings of the people. 

He commended his colleagues for their dedication throughout the vetting process and reiterated the legislature’s commitment to safeguarding the interests of citizens.

The House subsequently urged the executive arm to ensure the timely and efficient implementation of the approved estimates to foster the overall growth and development of the state. 

The bill is set to be transmitted to Governor Ademola Adeleke for his assent.