Osun doubles IGR to N54.7bn in 2024

Osun doubles IGR to N54.7bn in 2024

Osun State’s Internally Generated Revenue more than doubled in 2024, rising to N54.7bn from N25.3bn recorded in 2023, according to the state’s Financial Statements and Accounts for the year ended December 31, 2024.

The report, presented by the State Auditor-General, Kolapo Idris, also showed that total revenue inflows for the year stood at N306.8bn.

According to the breakdown, statutory allocation amounted to N159.7bn, Value Added Tax contributed N66.8bn, while capital receipts and development partners’ funds stood at N25.4bn.

On the expenditure side, the state spent a total of N273.5bn, of which N118.6bn went into capital expenditure. Personnel expenditure accounted for N61.4bn, while overhead costs and other recurrent expenditure stood at N65.7bn and N27.6bn, respectively.

The significant rise in IGR under Governor Ademola Adeleke’s administration has, however, sparked political reactions in the state.

When contacted, the spokesperson for the All Progressives Congress in Osun, Kola Olabisi, dismissed the figures, alleging a lack of transparency in government operations.

He said,” What’s there to be commended? Everything is done in secrecy. So, it cannot be the truth. How can such Internally Generated Revenue be obtained with the lackadaisical approach of the present government to governance?

It is not an overstatement to suspect and conclude that the figures are made up. They are only doing that to arrogate to themselves the quality they do not possess. It is made up. They are only fooling the people.”

But responding, the Director of Media of the Peoples Democratic Party in Osun, Oladele Bamiji, insisted that the report was credible and transparent.

He said,” We have nothing to hide from the good people of Osun State. The Adeleke administration has been operating on the pedestal of transparency, which is partly responsible for the public presentation of the financial statements we are talking about.

“Regarding the claim that the figures could be made up, maybe APC is still operating at the realm of their own past reckless way of managing public funds. I would have expected them to point out where the reports compiled by experts are made up. Maybe they are financial illiterates.”(www.amatropics.com)