Osun IGR Grows To N19.6 Billion

The Internally Generated Revenue (IGR) in Osun State has increased from N13.8 billion to N19.6 billion, the Auditor-General of the state, Folorunso Adesina, has said.

According to Adesina, the state in 2018 generated N13.8 billion; N17.7 billion in 2019 and N19.6 billion in 2020 despite COVID-19 that affected the economy of the nation.

The Auditor-General tagged the achievement to the high sense of commitment of the Governor Gboyega Oyetola-led administration to ensure accountability, transparency and probity in the management of the state’s resources.

EkoHotBlog gathered that the summary of the Audited Financial Statements, as presented, puts the Total Revenue (inflows) at N99,048,740,967.00 and Total Recurrent and Capital Expenditure (outflows) at N86,470,726,806.86 respectively.

The Net Balance on Total Revenue and Total Expenditure was N12.5 billion and Opening Balance as at January 1st, 2020 was N10.3 billion while the Total Closing Balance as at December 31st, 2020 was N22.9 billion respectively.

Analysis of Recurrent Expenditure indicates that Personnel Expenditure has N28.7 billion and Recurrent Expenditure has N17.9 billion.

Also, analysis of Capital Expenditure indicates that Administrative Sector has N5.3 billion; Economic has N27.8 billion; Law and Justice has N58.3 million and Social has N6.4 billion respectively.

This was revealed at Leisure Spring Hotel, Osogbo, during the Audit Forum.

Earlier, Speaker, Osun House of Assembly, Hon. Timothy Owoeye who was represented by the Chairman House Committee on Public Accounts, Gbenga Ogunkanmi reaffirmed the House’s commitment to continue to ensure checks and balances in the management of the State in general and public treasury in particular.

In his remarks, the Head of Service, Dr. Olowogboyega Oyebade, who was represented by the Permanent Secretary, Ministry of Human Resources and Capacity Building, Leye Aina, described the public presentation of the Audited Accounts as an indication to the fact that Oyetola’s administration was open to all.

In the same vein, the Chairman House Committee on Finance & Appropriations, Adebayo Olodo asked states governments across the nation to direct all strategy into the Audit Committee to ensure accountability, transparency and probity in the management of the State’s resources.

This, according to him, will reduce the rate of corruption in the country and secure all the leakage in the treasury.