Osun State Governor, Adegboyega Oyetola, has signed the 2023 Appropriation Bill into law.
The House of Assembly ratified the budget into law on Wednesday, and on Thursday night, Oyetola signed the “Budget of Consolidation,” a N138 billion budget estimate for 2023, into law.
In his office at the Government Secretariat in Abere, Osogbo, Governor Oyetola signed the Appropriations Bill into law and said that the 2022 budget has performed 83 percent as of the third quarter of this year.
The entire budget size is N138,265,988,140, with the Personnel Expenditure component being N45,450,655,060, the Recurrent Expenditure component being N53,755,885,370, and the Capital Expenditure component being N39,059,447,710.
Oyetola pointed out that the January-December budget cycle is now permanent as a result of the Appropriations Bill’s adoption and signing into law.
The state’s governor was praised earlier by the Speaker of the House, Timothy Owoeye, for establishing the January-December budget cycle and placing Osun in an admirable position in the nation with regard to state budgeting.
“The January-December budget cycle is rightly put in place in the State of Osun. Our state is the first do so in the country. I congratulate my colleagues for being dutiful and upright,” he said.
