Business
Osun House Increases Budget To N234bn
The Osun State House of
Assembly has increased the 2014 budget proposal to N234.4 billion from the initial figure of N216.7 billion.
The state governor, Rauf Aregbesola of Osun, through his Special Adviser on Budget and Economic Planning, had on December 31, 2013, presented a fiscal proposal of N216.7 billion.
But Mr Kamil Oyedele, the House Committee Chairman on Finance and Appropriation, announced the new figure recently while presenting the committee‘s budget report at plenary in Osogbo.
Oyedele said the adjustments made to the draft budget were done after proper consultations with the Office of Budget and Economic Planning as well as Ministry of Finance.
He said the recurrent expenditure in the new proposal stood at N99.7 billion representing 42.55 per cent while the capital expenditure was N134.7 billion representing 57.45 per cent.
Oyedele said recurrent revenue was N101.6 billion representing 43.34 per cent while the capital receipt stood at N132.8 representing 56.66 per cent.
He, however, said the new proposal was subject to the approval of the Committee of the Whole House.
Oyedele, who said government realised the need to reduce over dependence on funds from the Federation Account, acknowledged the need to boost Internally Generated Revenue(IGR).
He, however, added that the committee observed that the performance of some agencies of government in the area of revenue generation was far below expectation.
Oyedele said government intended to fund several developmental projects incorporated in the 2014 budget by leveraging on opportunities offered by internal and external funds as well as credits to bridge the observed gap.
He said the outstanding performance of Ministries, Departments and Agencies (MDAs) in the 2013 budget required that more funds be allocated to them to meet the yearnings of the people.
Oyedele said the committee recommended that the State Internal Revenue Service should be repositioned and strengthened in line with the enabling laws in order to achieve the targeted IGR.
He further said that government agencies should embark on aggressive revenue generation by blocking all the loopholes and leakages, including tax evasion.
Speaker Najeem Salaam said the report of the committee would be considered by the House.
Salaam, who said the house was not delaying the passage of the budget, added that it was only trying to ensure that the fiscal proposal was realistic.
He urged the people of the state to be patient, saying that the budget would soon be passed.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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