… says COVID-19 affected IGR
GOVERNOR Gboyega Oyetola of Osun State has informed the State House of Assembly that his administration has reduced the 2020 budget from N119.6bn to N82.2bn.
The governor, according to a letter to the state lawmakers, sought an approval for the downward review of the already passed 2020 budget.
He said the COVID-19 pandemic had affected Internally Generated Revenue of the state and proceeds from the Federation Account, hence, the downward review.
Already, the 2020 Amended Appropriation Bill has scaled through the second reading at the house plenary.
The governor’s letter, titled, “2020 Amended Appropriation bill of the State of Osun,” reads in part: “Mr Speaker and distinguished members will recall that year 2020 Appropriation bill was passed into law on Tuesday, 24th December 2019, and assented to on 30th December, 2019.
“The size of the budget was One Hundred and Nineteen Billion, Five Hundred and Fifty Million, Four Hundred and One Thousand, Forty Naira.
“However, the global COVID-19 pandemic, which has badly affected all sectors of the economy, has paved way for a review of the year 2020 budget. It is pertinent to inform you that the global lockdown, which doesn’t exonerate the State of Osun, has affected all the revenue variables, including the IGR and proceed from the Federation Account.
“As a result of this, the year 2020 approved budget of all Agencies of government has been reviewed downward to accommodate the current social and economic realities with focus on COVID-19 responsive activities.”
Reacting, the Speaker of the House of Assembly, Timothy Owoeye, who read the letter on the floor, said the presented draft bill, in the sum of N82,229,070,760.00, would have N9,442,503,260.00, which is 11.5 per cent, dedicated to fighting COVID-19 and post COVID-19 recovery activities.
Owoeye said, “The amendment is inevitable, the drop in revenue has greatly affected every facet of the economy. The need to streamline the approved 2020 budget to the current social and economic realities of COVID-19 is sacrosanct.
“The streamlining of all programmes of government and the need to focus the state’s priorities toward management and recovery from the pandemic makes it compulsory that the budget be reviewed.”
