Osun state might just be facing its hardest financial month ever with the total Federal Allocation accrued to the state just a tad above N6 million.
According to the document released by the office of the Accountant-General detailing the disbursement of Federal Allocations to states across the nation, Osun is to receive a total of N6.23 million naira as its allocation for February after deductions of external debts and Irrevocable Standing Payment Orders.
Of the N2.422 billion that was allocated to Osun state by the Federal Government, N70.989 million, N945.881 million and N1.400 billion totaling up to N2.416 billion was deducted to service external debts, ISPOs and other liabilities leaving the state with a meagre net amount of N6.23million
The governor of the state, Rauf Aregbesola had in September 2015 lamented bitterly after the net allocation to the state had totaled up to N56 million.
He had noted that the said amount was not even enough to offset the electricity charges accrued to the Ibadan Electricity Distribution Company (IBEDC) for the power used monthly at the state secretariat.
Now, with the allocation just a little shy of N6.5 million, how would a state government that declared that “money coming from the Federation Account has dipped seriously and our hope for survival is in our hands,” in September 2015, survive?
How would salaries be paid?
How would ongoing projects be sustained?
How would the state be able to function?
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