The Osun House of Assembly has ratified and approved the report on the Economic and Fiscal Update, Fiscal Strategy Paper and Budget Policy Statement 2022 to 2024 submitted by the House Committee on Finance and Appropriation.
Presenting the report to the House, the Chairman of the Committee, Mr. Taiwo Olodo said the Committee after deliberation on the document recommended that House should approve the Economic and Fiscal Update and Strategy Paper as it would help in budget preparation for year 2022.
Mr. Olodo submitted that the 2022 to 2024 Medium term expenditure should have been presented to the House for ratification.
After thorough deliberation by the Lawmakers, the House resolved that to recover from post-pandemic economic level in the country, especially Osun State which has changed the economy situation and increase inflation, the state government should be proactive by improving on internally generated revenue.
In his remark, the Speaker, Mr. Timothy Owoeye urged every residents of Osun State to make tax payments a priority to boost the state IGR.
Mr. Owoeye also advised that the state should look into harnessing mineral resources within the state to generate revenue.
The Speaker said the Governor, Mr. Gboyega Oyetola can now lay before the House the year 2022 budget proposal.
The Speaker, Mr. Owoeye has directed the Osun Internal Revenue Service to furnish the Assembly with the revenue generated between January and June 2021 as well as appear before the House on Tuesday 28 September 2021.
Funmi Adekoya
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