Aregbesola Presents N17.4bn Supplementary BudgetState of Osun governor, Ogbeni Rauf Aregbesola,last Thursday requested the state legislature for approval of additional Supplementary Budget of N17.4 billion (Seventeen Billion, Four Hundred and Twenty-Three Million, Fifty-Five Thousand, Seven Hundred and Eighty Naira).

The approval of the supplementary budget by the state lawmakers will enable the state government to re-allocate additional budgetary provisions to some ministries and agencies in the 2012 Appropriation Law.

Aregbesola, in a letter dated October 15, 2012, directed to the Speaker, the State of Osun House of Assembly, Honourable Najeem Salam, stated that there is urgent need to increase the size of the 2012 budget to accommodate, the increase in the state revenue, recurrent, and capital expenditure.

He stated that the additional provision, if approved by the state legislature, would enable affected agencies to execute their projects within this fiscal year.

The governor assured the lawmakers that his administration would continue to live up to expectation in terms of financial discipline, transparency, probity and delivery of dividends of democracy to the people.

Osun Assembly had in January passed the total amount of N150,124,703,880 (One Hundred and Fifty Billion, One Hundred and Twenty four million, Seven hundred and Three Thousand, Eight Hundred and Eighty Naira) in the 2012 Appropriation
law.

According to the 2012 appropriation law, the capital expenditure was N79,047,780,520, recurrent expenditure; N71, 076,923,360 with overhead cost of N17,711,354,510, personnel cost; N28,395,905,450 and consolidated revenue charges; N24,969,581,400.

Projected revenue estimates also balanced the budget with capital receipts of N62,040,554,250, being expected revenue from government agencies and ministries, which was put at N88, 084,067,630, and formed the size of the 2012 budget (N150,124,703, 880).

In the 2012 budget, capital expenditure, the economic sector, which includes Agriculture, Rural Development, Livestock, Forestry, Fishery,Urban and Rural Electrification, Commerce and Transportation have the largest share of N38,330,303,150.

The social service sector, which includes education, health, information, culture, social development, youths and sports followed with N21, 102,049, 320.

http://www.osundefender.org/?p=46829

hmmm. . .

What was Osun's last year budget?

Asiwaju's pocket must be supplemented!

Gba ooo....boys need more cash to embezzle....the pepper no rest enough...carry go after this one....bring another one....

I knew it, after using part of the year's budget to finance Ondo election. Thanks to Osun state for the free kerosene and Ankara.

Hahahahahaha....Aregbe is presenting supplementary budget to 'accommodate the increase in the state revenue, recurrent, and capital expenditure' when 2013 budget preparation (at least) should be his preoccupation. Am i the only one that observe the SOLID reason for this supplementary budget?

Now , some of us will be interested in what Aregbe achieves with this extra 15 billa in 2 months after excellent implementation of the initial 150 billa, the effect which we can see in the O'city...

They want to recoup the money they lost in the Ondo State election.

Supplementary kini? Hope this billions no be to supplement ileya ram with undiluted palmy?

supplement what? i beg do our roads, and create employment nd nt al dis O yes,O reap,O hub,O meal,O school,O tour we r tired of al dis

A 17.4bn Supplementary budget in October This is quite puzzling.

How will the budget be funded if i may ask? Osun State monthly allocation, as well as the IGR will pale into insignificance when contrasted against the
above quoted figure.

The government should have come out plain on his desire to raise bond on the capital market instead of hiding behind the idea of a supplementary budget with no clear-cut means of funding.

Maxymilliano: A 17.4bn Supplementary budget in October This is quite puzzling.

How will the budget be funded if i may ask? Osun State monthly allocation, as well as the IGR will pale into insignificance when contrasted against the
above quoted figure.

The government should have come out plain on his desire to raise bond on the capital market instead of hiding behind the idea of a supplementary budget with no clear-cut means of funding.

I'm concerned about the same thing you have mentioned. I hope the money will be put to good use thus reflecting on what it is being planned to be expended on.

Telez: supplement what? i beg do our roads, and create employment nd nt al dis O yes,O reap,O hub,O meal,O school,O tour we r tired of al dis

Sowwwy, resident of the state of Osun. You now have the power in your hands come next election.

Why are there so many dead heads on NL. Is it by force τ̅☺ make comments. You just talk for talking sake. If its not sentiments, its tribal or religious, why this kain yeye people full here sef?

wellmax: Why are there so many dead heads on NL. Is it by force τ̅☺ make comments. You just talk for talking sake. If its not sentiments, its tribal or religious, why this kain yeye people full here sef?

Will you be asking this question if GEJ presents a budget of say N100b in October? Now you can better identify the biased guy here...

F00LS INVASION OF NAIRALAND!!!

To legalise the misappropriated fund spent for Ondo State election. What a shame.

where would u expect dem to generate the lost funds sent to ondo? Even their godfather paid 40m to ibadan unpaliamentary-commissioner for thuggery to spend on d same election. Money must com bk now!!!!

Gov Aregbesola 'carry go' jor. Don't mind these O'Haters on NL.

Let me start parking my luggages for 2morrow 'O'TRAIN TO OSUN' I dont want to spend from my O'YES Allowance....

VUVUZELA10: To legalise the misappropriated fund spent for Ondo State election. What a shame.

Mumu, see how an ediot reasons.
Jump in the River

234GT: Asiwaju's pocket must be supplemented!

Nah so.

wellmax: Why are there so many dead heads on NL. Is it by force τ̅☺ make comments. You just talk for talking sake. If its not sentiments, its tribal or religious, why this kain yeye people full here sef?

if you post it here, expect to get a reply or good thrashing.

stop supporting nonsense ACN. If GEJ asked for supplementary budget nah go won occupy 3rd Mainland bridge

In percentage terms 17 bn is approximately a tenth of the initial budget of 150bn. We have at least 2 months left in the year - approximately a tenth of the year still to go.

Without knowing the details of why this additional expenditure is required, the figure projected is in itself not unreasonable/alarming considering the period of time remaining in the year.

Let's hope the house will provide appropriate scrutiny to ensure the funds are used for the stated purposes for the benefit of Osun State.

GARRI (x7):
F00LS INVASION OF NAIRALAND!!!

ACN goon detected

THE MONEY WILL BE USE TO RETIRE HIS RECKLESS EXPENDITURE IN ONDO ELECTION, I CONGRATULATE SAN AKEREDOLU, HOW COULD THIS MAN REFUND ALL THIS KIND OF MONEY ASSUMING HE WAS EVENTUALLY ELECTED AS THE GOVERNOR OF ONDO STATE, SENDING US TO O-NO FRUITLESS PROGRAM.

234GT: Asiwaju's pocket must be supplemented!

The Ondo election was expensive.

debosky: In percentage terms 17 bn is approximately a tenth of the initial budget of 150bn. We have at least 2 months left in the year - approximately a tenth of the year still to go.

Without knowing the details of why this additional expenditure is required, the figure projected is in itself not unreasonable/alarming considering the period of time remaining in the year.

Let's hope the house will provide appropriate scrutiny to ensure the funds are used for the stated purposes for the benefit of Osun State.

Oh boy! See logic. It sounds like this: 'You can actually overtake somebody in a sharp bend depending on your speed, acceleration and the relative angular deviation of the sharp bend from the normal 180 degrees route'