Akure, Nigeria
The governor of Ondo State, Lucky Aiyedatiwa has presented a proposed budget of N655 billion for the 2025 fiscal year to the State House of Assembly.
Aiyedatiwa presented the appropriation bill to the lawmakers on Tuesday in Akure.
The proposal which he termed “Budget of Recovery”, infrastructural development is to gulp N238 billion; N77 billion for education; N56 billion for agriculture and health was allocated N46 billion.
BREAKDOWN OF THE BUDGET
The sum of N248.923 billion, representing 37.99% of the total budget, is allocated for recurrent expenditure, while N406.307 billion, representing 62.01% of the budget, is earmarked for capital expenditure.
Infrastructure development in the State is expected to be the topmost agenda of his administration as the sector with the largest allocation of N238.572 billion, representing 36.40%, followed by public finance with N125.456 billion (19%).
Education got N77.024 billion representing (11.80%) while agricultural development got N56.102 billion (8.60%).
The administration of justice is allocated N13.163 billion (2.80%); trade and industry, N8.839 billion (1.30%); health N46.016 billion (7.00%), and environment and sewage management N13.084 billion (2.00%).
Others include general administration which is allocated N34.398 billion (5.20%); information N3.230 billion (0.50%); legislative administration N7.636 billion (1.20%); regional development N8.869 billion (1.40%); community development N14.128 billion (2.20%), and energy N3.742 billion (0.60%).
The governor thanked the people of the state for electing him during the recent gubernatorial election and for maintaining peace throughout the electoral process.
He began by acknowledging the legacy of his predecessor, the late Arakunrin Odunayo Oluwarotimi Akeredolu, SAN, emphasising that the achievements of the past year under his leadership have secured the trust of the electorate.
“By the grace of God, we have delivered on our promises, and we now seek to consolidate our gains through the 2025 Budget,” Governor Aiyedatiwa stated.
He said the State House of Assembly displayed dedication to the State by passing the 2024 revised appropriation bill which helped his administration to address the challenges posed by the economic downturn.
Aiyedatiwa highlighted his administration’s achievements in agricultural development, infrastructure projects, and human capital development as central priorities.
Reflecting on the 2024 fiscal year, he said revenue collection had reached N352.1 billion by the third quarter, representing 71.56% of the total target. He, however, said capital expenditure performance was impacted by inflation, with N49.957 billion reported by the end of Q3.
