Amazingly, Oyetola's outstanding performance evidenced in his good governance in less than two years as Governor is a denial of the hollow economic status of the state.
Sustaining recurrent monthly expenditure obligations the biggest part of which goes to payment of workers' salaries, has always been a daunting task for any succeeding government in Osun. The reason for this is not far fetched; the state is not financially buoyant.
I learnt, on the average, that Osun recurrent monthly expenditure obligation is close to N5 billion naira while monthly revenue (both federal allocation and IGR) accruing to the state has always been on the average of N3 billion naira leaving a shortfall of about N2 billion naira needed to augment and sustain monthly expenditure obligations.
As reliably gathered, out of an average of N3 billion monthly revenue, the state spends more than N2.6 billion on payment of workers' salaries and pension of retirees every month. You see, what a predicament! This for instance, is not just a fact, but also a reason adduced for introduction of 'half-salary' policy by the immediate past government led by Engineer Aregbesola.
The fact that the previous government could not pay full salary shows the state is incapacitated! It implies a paucity of funds in the state, which means that the succeeding government would hardly meet any funds in the state's treasury.
But since Oyetola came onboard exactly 20 months ago, he has not only been paying salaries, but has also been paying in full as at when due, and even before due dates, as exemplified by this month early payment.
By simple arithmetics given the above statistics, Oyetola has, between November 27, 2018, when he assumed governance and now (in just twenty months) spent far above N50 billion naira on payment of workers' salaries and retirees' pensions.
How the incumbent Governor has been able to maintain and sustain the state in its statutory expenditure obligations, especially in this economic crisis precipitated by the ravaging coronal virus, which has worsened the weak economic status of the state, remains an amazement.
According to the National Bureau of Statistics, Osun, as a non-oil producing state, is always the state with the lowest federal revenue allocation out of the 36 states in Nigeria. It would take Osun, for instance, six months (that is, half a year) to receive what Rivers, one of the highest receiving states, as oil producing state, gets monthly as federal allocation from Federation Account Allocation Committee (FAAC).
As Oyetola continues to exhibit exceptionally exemplary leadership qualities, modesty in governance, high performance amidst known economic hardship, his corporate behaviour may be discerned as an innuendo about the insincerity of previous holders of the same office.
In my own assessment based on my understanding of the prevailing economic situation of Osun, the Governor deserves a commendation for his managerial acumen, economic prudence, financial expertise and wizardry in fiscal administration on which the state has been leveraging for its many achievements in less than two years of the present regime.
*Olorede*, Mass Communication Scholar, Media Trainer, Poet and Public Affairs Commentator, can be reached via 08111841887, [email protected].
Post a Comment