Governor Rauf Aregbesola of Osun State has sought the approval of the state lawmakers for a downward review of the 2016 budget estimates from N150.7 billion to N137.9 billion.
This is contained in a letter written by the governor to the State House of Assembly, and read by the Speaker, Najeem Salaam, at plenary in Osogbo on Monday.
According to the letter, the governor asked for a downward review of the personnel cost from N33 billion to N32 billion, overhead cost from N12 billion to N9 billion.
The capital expenditure was also reduced from N67.9 billion to N58.8 billion, while the consolidated revenue fund charge remained N37 billion.
“The current economic downturn in the country, occasioned by the dwindling revenue accruable to the federation account, necessitate the need to reduce the cost of governance.
“Therefore, it has become pertinent and inevitable to restructure the 2016 draft budget in line with the reality on ground.
“In line with the extant rules and regulations, the house, through your office is being informed about this new development,” the letter stated.
The governor had on Dec. 10, 2015, presented budget of N150.7 billion to the assembly, the bill which is still pending before the assembly.
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