Governor of Osun state, Ademola Adeleke has signed the N723 billion 2026 price range into legislation, marking the ultimate appropriation invoice of his first time period in workplace.
The signing ceremony occurred on Monday in Osogbo, with the governor’s deputy, Kola Adewusi, and members of the state govt council in attendance.
The event was disclosed in an announcement issued by the governor’s spokesperson, Malam Olawale Rasheed.
What they’re saying
Governor Adeleke mentioned the 2026 price range was signed into legislation to consolidate and develop governance and repair supply, in keeping with his administration’s five-point improvement agenda.
In accordance with him, the price range will likely be deployed to finish ongoing tasks and launch new initiatives throughout the state.
“Our administration has, within the final three price range years, laid a strong basis for the sustainable improvement of our expensive state,” he mentioned.
“We accomplished many deserted tasks and launched new ones. We paid billions of naira in pension and wage money owed. We focused employees’ welfare, accepted and carried out funds of promotions arrears, and paid many allowances which the earlier authorities uncared for”, he mentioned.
Adeleke reeled out different achievements of his administration, including that the outcomes and outputs of the price range within the final three years had been very optimistic.
In July, Osun State Authorities introduced a big discount within the state’s debt profile, stating that Governor Adeleke has lower the debt burden by 43 % between 2022 and 2025.
What this implies
The signing of the N723 billion price range alerts the Osun State authorities’s intention to consolidate previous infrastructure and welfare features whereas making ready the bottom for brand new tasks forward of the tip of Adeleke’s first time period.
Initially proposed at N705 billion on November 12, the price range was later revised upward to N723 billion and handed by the Osun State Home of Meeting on December 23, reflecting changes made throughout the legislative evaluate course of.
What it’s best to know
In accordance with the newest DMO knowledge for Q1 2025, Osun State’s debt profile is N83.3 billion.
The info confirmed that the overall money owed owed by the 36 states and FCT stood at N3,87 trillion.
Nigeria’s complete public debt rose to N149.39 trillion as of March 31, 2025, marking a year-on-year improve of N27.72 trillion or 22.8% when in comparison with the N121.67 trillion recorded within the corresponding interval of 2024.
In Might, Governor Adeleke introduced the approval of a N4 billion bond for the cost of retirees underneath the contributory pension scheme within the state.