The Ondo State Governor, Lucky Aiyedatiwa, on Tuesday, presented a N655.230 billion proposal for the 2025 budget to the state House of Assembly.
Dubbed the ‘Budget of Recovery,’ the proposed budget allocates N248.92 billion for recurrent expenditures and N406.307 billion for capital projects.
While presenting the budget to the Assembly members, Governor Aiyedatiwa urged the house to give the 2025 budget proposal a thorough consideration, assuring that his administration would commit to its efficient implementation.
The governor explained that after carefully considering various economic indicators and assumptions, it is projected that the state’s revenue will increase in 2025 compared to 2024. Thus, the proposed budget for the upcoming fiscal year stands at N655.230 billion.
“Mr. Speaker, distinguished honourable members, we have aptly named the 2025 budget the ‘Budget of Recovery.’ Our commitment to improving the quality of life for our people remains unwavering.
“This aligns with our campaign promise during the recently concluded Ondo State governorship election on November 16, 2024, where we secured an unprecedented victory across all 18 local government areas of the state,” he stated.
He added, “We are resolute in our determination to harness the economic reform agenda of the Federal Government as encapsulated in President Bola Tinubu’s Renewed Hope Agenda, along with the tremendous goodwill and entrepreneurial spirit of our people. Our goal is to drive a meaningful economic upturn in the new year.”
In his remarks, the Speaker of the Assembly, Mr. Olamide Oladiji, commended Aiyedatiwa for his achievements, which contributed to his resounding electoral victory.
He assured the public that the budget would be scrutinised rigorously to ensure it positively impacts every citizen.