N130bn accrued to Osun under Adeleke By Adebayo Adedeji

I read the barefaced lie of the Osun state government regarding a publication by some concerned Osun citizens itemising  sector-by-sector infractions of the government of the day. In the explainer by the Osun government, it was said that only N61.7bn (FAAC) and N27.4bn (Independent Revenue), total N89.1bn had accrued to the state in 12 months. 

Let it be known that the current government has received more than N130bn since inauguration, as against merely N70bn received during the first 12 months of former Governor Adegboyega Oyetola.

Find below details of the revenue accrued to the government of Adeleke in the last 12 months. First of all, it is important to state that the Revenue of Osun state comprises Recurrent Revenue and Capital Receipt. From Jan-Sept 2023, the state inflow as published in the State's budget performance report is N99.1bn ( this includes the opening balance of N317m):

FAAC- N61.7bn

Independent Revenue- N27.4bn

Aids/Grants - N5bn

Capital Development Fund- N4.6bn

Total- N98.7bn

From Nov-Dec 2022, the state earned:

FAAC(Nov) -N5.5bn

FAAC (Dec)- N6.3bn

SURE-P - N8.2bn

LAUTECH refund- N1.5bn

Ecological fund- N1.2bn

Inherited FAAC account- N3.3bn

Revenue collection in various accounts- N2.2bn

Sinking fund with Wema Bank-N2bn

Sinking fund with Sterling Bank- N202m

Total- N30.4bn

Gross Total from Nov 2022 to September 2023- N129.1bn

If you sum it with the October 2023 FAAC which is N7.3bn, you will arrive at N136.4bn.

On the subvention given to state university, UNIOSUN, the claim of the state government that it had released N4.1bn to the university is another irresponsible lie told by the conscienceless spin doctors of the government. Data available on the official website of the state indicates that of the N5. 4bn earmarked for UNIOSUN in 2023, only N1. 9bn, representing 38%, had been released to the university as at end of September 2023. The implication of the reduced financial support to the university is what we are currently experiencing in the institution where management of the institution had no other benign option than to increase the students' school fees to shore up its revenue in order to pay the rising overhead cost.

The Public Relations Officer of the university, Ademola Adesoji, confirmed the increment in his reaction to a report  done by an Osogbo-based newspaper, even though he couched the increment ancillary fees.

On the mismanagement of N9bn FG palliative fund, the explanation of the state government, again, can not hold any water. Contrary to the claim of the state government that the "N2b palliative fund is not a grant but a facility that will be paid back," the fund in question is actually a grant from the federal government. The attempt of the Adeleke-government to explain the kind gesture of the federal government away is most unfortunate.

To reduce the impact of fuel subsidy removal, the Federal Government had in August extended N5b intervention fund to each state in the country. According to Governor of Kwara, who is also the Chairman of the Nigerian Governor's Forum, of the N5b relief package "Each state is to receive N1bn worth of maize from the strategic national reserve through the Central Bank of Nigeria.

A statement signed by Asishana Okauru, the director general of the Nigeria Governors Forum (NGF), said the remaining N4,000,000,000.00, will be disbursed as follows: FGN Grant: (52%)-N2,080,000,000.00; Loan (48%): N1,920,000,000.00. The above statement has, once again, destroyed the wicked lie of the state government of Osun.

On the claim of the state government that the N7bn palliative "was earned revenue... like other State... and has no connection with the subsidy removal," I reiterate that the said money is share of the Osun state from the savings on fuel subsidy. Reason the money was distributed uniformly and evenly to each state of the federation. Governor Adeleke, in his address during the last Ipade Imole, equally confirmed that the N7bn was Osun's share of the over N1trn saved from fuel subsidy removal. That some media rotweillers of the government have to persistently tweak this simple information to mislead unsuspecting members of the public is the height of desperation to shield Osun finance from public scrutiny.

Finally, on the immoral allocation of N10bn to the office of Governor Adeleke in the supplementary budget to take care of his comfort and expensive lifestyle, the state government's explainer that the N10bn was not voted for the governor but for numerous agencies, departments and units in the office of the governor, is an afterthought to manage the embarrassment the insensitive allocation has generated for the governor and his devotees. But the more the state government and its handlers struggle to rationalise the disccussed infractions and beastly expenses, the more they expose their pretence, incompetence, waywardness and avarice to the members of the public.