
Osun State, named after the Osun River and its famous goddess, is a state rich in culture and heritage. The Osun-Osogbo Sacred Grove is a UNESCO World Heritage Site. The state has been working to diversify its economy from its traditional agricultural base toward manufacturing and services.
Key observations from Osun State State's 2024 budget
Osun State State's total budget for 2024 is ₦268.00 Billion. This budget is perfectly balanced.
The largest single sector allocation is education, receiving ₦75.00 Billion. This accounts for 28.0% of the total budget.
The primary source of revenue is faac, contributing ₦172.00 Billion. This represents 64.2% of the total expected revenue.
Common budget terms explained
Internally Generated Revenue. Money collected by the state internally (taxes, fines).
Federation Account Allocation Committee. Funds distributed from the federal government.
Money spent on long-term physical assets like roads, schools, and hospitals.
Money spent on day-to-day operations like salaries and overhead costs.
When a state plans to spend more money than it expects to collect in revenue.