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LAGOS and Osun state governors, Babajide Sanwo-Olu and Gboyega Oyetola have presented their respective 2021 budget to the State Houses of Assembly for approval.
Sanwo-Olu proposed a budget size of N1.6trn for the 2021 fiscal year for passage before the State House of Assembly on Tuesday.
Sanwo-Olu, during his presentation, tagged the budget as ‘Budget of Rekindled Hope’ stating that it aimed to reflect the determination of his administration to rise above the challenges that have affected the state’s development indices in the last 10 months.
A breakdown of the budget showed that Education will take N143,655,493,855.89, Agriculture, N18,311,948,584.57, Health, N118,360,479,650.50, Commerce, N41,989,851,318.18, Energy and Mineral Resources, N32,585,739,585.09, while Transportation is allocated a sum of N98,931,628,325.88.
In Osun state, Oyetola proposed a budget of N109.8bn to the State Assembly and tagged it ‘Budget of Providence’ also saying that it is dedicated to post COVID-19 pandemic recovery.
He noted that the fact that the bulk of government’s revenue for the year 2020 came from Federal Allocation highlighted the need to boost Internally Generated Revenue, (IGR) of the State.
Timothy Owoeye, the Osun State Assembly Speaker commended the Executive arm for making the 2020 budget live up to its expectations even in the face of COVID-19.
Owoeye charged the executive to increase ease of doing business and remove bottlenecks that could scare investors away from the State.
He added that the State House of Assembly would continue to embark on effective oversights to ensure timely completion of government projects in the state.