By Jeph Ajobaju, Chief Copy Editor
Osun State made N19.6 billion in Internally Generated Revenue (IGR) in 2020 against N17.7 billion in 2019, an increase of N1.9 billion or 10.73 per cent despite the debilitating effects of pandemic lockdown.
Auditor General Folorunso Adesina said the feat was achieved through accountability, transparency, and probity in resource management championed by the administration of Governor Adegboyega Oyetola, per reporting by The Nation.
“The audited accounts as presented revealed the astronomical improvement in the state [IGR] from 2018 to 2020 as a total sum of N13,805,843,339.25 was generated in 2018; N17,720,122,360.44 in 2019 and N19,642,333,010.68 in 2020,” Adesina explained when he presented the figures in Osogbo.
The data shows Total Revenue (inflows) at N99,048,740,967 and Total Recurrent and Capital Expenditure (outflows) N86,470,726,806.86.
Administration took N5,392,638,753.82 in Capital Expenditure subheadings, Economy (27,896,438,968.24), Law and Justice (N58,309,514.17), and Social (N6,416,375,818.63).
Adesina stressed that Public Finance Management (PFM) reform under the leadership of Oyetola “has got a boost by becoming one of the pioneer states to assist and implement Audit Act in Nigeria, a feat the federal government is yet to attain.”
He said the presentation of the 2020 fiscal account would enable Osun consolidate on its pacesetter status among the comity of states and further build public trust and confidence in governance.
He disclosed that as of December 31, 2020, Total Asset was N153,895,719,326.64; Total Liabilities N90,720,513,278.69, and Net/Equity N63,175,206,047.95.
State House of Assembly Speaker Timothy Owoeye commended Oyetola for running an all-inclusive government.
Owoeye, represented by Assembly Public Accounts Committee Chairman Gbenga Ogunkanmi, reaffirmed the commitment of lawmakers to ensuring checks and balances in the management of state resources.
