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A Review of the Revenue and Expenditure Pattern of Osun State Government between 1997 and 2006

Author : Hassan Afees Olumide and Ajayi Adeola
Volume 4 No.2 July-December 2015 pp 33-41.

Abstract

The study examined the sources of revenue in Osun State. It determined the impact of revenue consultants on the internally generated revenue of Osun State Government, all with a view to surveying the expenditure pattern of the state.In the course of carrying out the study, data were collected primarily through interview method. Four principal officers in the financial sector were interviewed. However, secondary sources of data were collected from Osun State of Nigeria Audited Reports and financial statements for the year ended 31st December, 1997 to 2006. The data generated were analyzed using percentages and pie-chart for illustrations.The findings of the study revealed that the sources of revenue for Osun State Government included Internally Generated Revenue (IGR), Statutory Allocation, Value Added Tax (VAT) and Capital Projects. It also discovered that Statutory Allocation was the dominant sources of government revenue during the period of study. It accounted for 63.69% while IGR was 19.7%, Value Added Tax (VAT) 8.07% and capital Receipts 8.48%.The study also discovered that the Recurrent Expenditure overshot the capital expenditure during the period of study on ratio 7:3 respectively while the state recorded surplus budget in seven times and deficit budgets in 2003 and 2004.The study concluded that the Osun State Government was over dependent on external sources to finance recurrent and capital expenditure during the period of study.

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