Osun State House of Assembly in Session

Osun Assembly approves 2022-2024 MTEF, projects N102.12bn for 2022 Budget

*The Osun State House of Assembly invites Governor Adegboyega Oyetola of Osun State to proceed to lay the state’s 2022 Budget estimate before the State House of Assembly for approval following its endorsement of the state’s 2022-2024 Medium Term Expenditure Framework

Isola Moses | ConsumerConnect

As part of the State Government’s reported plan to achieve inclusive, sustainable economic growth towards ensuring a high standard of living for all residents, the Osun State House of Assembly (OSHA) has approved the 2022-2024 Medium Term Expenditure Framework (MTEF).

ConsumerConnect gathered the Osun State Executive Council earlier had forwarded the Term Expenditure Framework containing the Economic and Fiscal Update (EFU), Fiscal Strategy Paper (FSP) and Budget Policy Statement (BPS) to OSHA, in Osogbo, the state capital, for approval.

Hon. Bayo Olodo, Chairman of the House Committee on Finance and Appropriations, while presenting the report during the Plenary of the House of Assembly, stated that the house had amended some parts of the Framework, report said.

Governor Adegboyega Oyetola of Osun State

The lawmaker noted that the Osun State Omoluabi Conservation Fund Law, 2012, mentioned in paragraph 14(e), page 8 of the Document, had been repealed in the year 2016.

Olodo requested the State Internal Revenue Service to double their efforts at improving the state’s debt sustainability plan.

The House Committee on Finance and Appropriations also recommended that the State Internal Revenue Service should implement a working plan in growing the Osun State tax base by improving on revenue generation drive.

The year 2022 Proposed Budget size is projected at N102,107,287.073 (comprising Recurrent and Capital Expenditure of N75,342,342,133 and N26,368,455,528 respectively), whereas the budget policy thrust is predicated on the five goals of the State Development Plan.

The document shows the 2022 budget will achieve inclusive, sustainable economic growth with full and productive employment that ensures a high standard of living for all residents of the State.

It is also noted that the document will “achieve diversified and enhanced revenue base by providing an enabling business environment which will attract and retain investors and expand existing businesses, achieve a world-class State infrastructure system that attracts investors, facilitates economic growth and supports the State’s priority needs.

“Ensure qualitative and functional education and healthy living in a safe and secure egalitarian society through people-oriented development; and ensure that cities and human settlements are safe, resilient and sustainable while also conserving the ecosystem.”

Accordingly, Rt. Hon. Timothy Owoeye, Speaker of the Osun State House of Assembly, reportedly summoned the Osun Internal Revenue Service (OIRS) to furnish the House with details of revenue generation in the past six months on or before Tuesday, September 28, 2021.

The House as well invited Governor Adegboyega Oyetola of Osun State to proceed and lay next year’s Budget estimate of the state before the OSHA.

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