Aregbesola presents N173.9bn 2018 budget

By Lateef Dada


Osun state governor, Rauf Aregbesola yesterday presented the sum N173.9 billion 2018 budget estimates to the state Assembly for consideration and approval.
The budget christened “Budget of Enduring Legacy,” has a recurrent expenditure of 49 per cent while the capital expenditure was allotted 51 per cent.
He saluted the endurance of the legislators which he said had not been given official cars since the beginning of their tenure, adding “our executive members receive less pay than our permanent secretaries.”
He said the budget was anchored on the avowed commitment of his administration to provide conducive living environment for the people of the state.
The governor, who addressed the state Assembly, said the state would be expecting money to finance the budget from expected government share of Federation Account of N27 billion, representing 15.56 per cent, Value Added Tax (VAT) of N8.8 billion, representing 5.10 per cent.
Others are Excess Crude Account, N77.7 billion; other revenues from FAAC N5.052 billion or 2.90 per cent; personal and corporate taxes, N25.1 billion or 14.45 per cent; and N9.7 billion or 5.58 per cent, respectively,
Expected from Licences is N1.5 billion or 0.92 per cent, General fees, N20.8 billion or 11.99 per cent, General Earnings, N3.6 billion or 2.55 per cent, Rent on government buildings and rent on lands and others,N335.7 million or 0.19 per cent; and N279 million or 0.16 per cent, respectively.
Other sources according to the summary of the budget are, repayment, investment income, interest earned, reimbursement, domestic aids, foreign aids, domestic grant and foreign grants
The governor put the total year expected receipt at N151.9 billion (87.34, other sourced fund to finance specific projects are internal source and external put at N1.5 billion and external source at N20.5 billion, respectively.

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