Osun State’s Internally Generated Revenue (IGR) more than doubled in 2024, rising to N54.7 billion from N25.3 billion in 2023, according to the state’s audited financial report for the year ended December 31, 2024.
The document, presented by the Auditor-General, Kolapo Idris, showed that total revenue inflows during the year stood at N306.8 billion. A breakdown of the figures indicated that statutory allocation contributed N159.7 billion, Value Added Tax accounted for N66.8 billion, while capital receipts and development partners’ funds were put at N25.4 billion.
On expenditure, the state spent N273.5 billion, with N118.6 billion going into capital projects. Personnel costs stood at N61.4 billion, while overheads and other recurrent spending amounted to N65.7 billion and N27.6 billion, respectively.
The sharp increase in IGR under Governor Ademola Adeleke has generated political debate across the state.
Reacting to the figures, the Osun All Progressives Congress (APC) spokesperson, Kola Olabisi, dismissed the report, questioning its authenticity. He argued that government operations lacked transparency and described the IGR figures as “fabricated to mislead the people.”
In a counter statement, the Director of Media for the Peoples Democratic Party (PDP) in Osun, Oladele Bamiji, defended the report as credible and transparent. He maintained that the Adeleke administration had been committed to openness, which was why the financial statements were made public.
Bamiji added that the APC’s skepticism reflected its past record in office, saying, “If they doubt the figures, they should show evidence rather than discredit reports prepared by professionals. Perhaps they are simply unwilling to understand financial documents.”
