Gov. Gboyega Oyetola of Osun on Tuesday signed into law the N109 billion 2021 state appropriation bill.
Oyetola, while signing the bill in Osogbo, said that the 2021 budget would perform better than the 2020, which according to him recorded more than 90 per cent performance despite COVID-19 lockdown and the EndSARS protest.
It was reported that the budget christened “Budget of Providence” was presented to the state House of Assembly by the governor on Nov. 10.
The appropriation bill, which has N50.6 billion allocated for recurrent expenditure and N59.2 billion for Capital Expenditure was passed by the Assembly on Dec. 18.
Oyetola said the budget would offer greater hope of job opportunities; improved welfare for all; human capital and massive infrastructure development than the previous year.
He said that with the budget would serve as a catalyst for massive transformation that would take the state to higher level.
The governor said that his administration would follow time-tested economic principles to enhance optimum results of the 2021 budget.
He said Year 2021 budget had been creatively appropriated and designed to meet the present socioeconomic realities and statutory obligations of the government.
According to him, the state is on the path of delivering its Development Agenda in 2021 with 54 per cent for capital and 46 per cent for recurrent expenditure allocations, respectively and creative income strategies.
He reaffirmed his administration’s commitment to employ creative and prudent strategies in the implementation of the budget to effect maximum performance.
While presenting the appropriation bill to the governor, the Speaker of the Assembly, Mr Timothy Owoeye, commended the governor for his sterling performance in the implementation of the 2020 budget.
Owoeye lauded the governor’s prudency, probity and accountability in the management of the state’s economy over the years.
The speaker expressed confidence in the ability of the executive arm to ensure adequate implementation of the 2021 budget “for the good and betterment of the people and the state.”
Also speaking, Prof. Olalekan Yinusa, Commissioner for Budget and Economic Planning, maintained that the success of the 2020 budget was due to the ingenuity and proactiveness of Gov. Oyetola in spite of the challenges witnessed during the year.
Yinusa said the 2021 budget was prepared based on realistic and stringent conditions to meet the statutory obligations.