The Governor of Ondo State, Lucky Aiyedatiwa, on Monday signed the state’s 2025 Appropriation Bill of N698.659 billion into law.
Assenting to the bill in Akure, Aiyedatiwa described the 2025 fiscal plan, christened the “Budget of Recovery,” as a bold and strategic step towards rebuilding the state’s economy and addressing critical socio-economic challenges.
Thefrontrank reports that the 2025 budget which was presented to the Ondo State House of Assembly on Tuesday, December 10, was increased from the N655.230 billion to N698.659 billion.
The budget, totalling N698.659 billion, allocated N433.622 billion (62.06 percent) to capital expenditure and N265.037 billion (37.94 percent) to recurrent expenditure.
According to the governor, the budget will fulfil the promises made to the people of the state during the electioneering process.
Explaining the prioritisation of capital projects, Aiyedatiwa said: “We have deliberately allocated the higher percentage to capital development in order to jumpstart the economy and initiate massive infrastructural renewal across the State.
“The main objective of this budget is to make life easy for our people. This objective is sacrosanct and non-negotiable.”
He emphasised that the budget reflected the collective aspirations of residents of the state, noting that it was crafted with inputs from stakeholders during town hall meetings across the state.
The governor said: “The budget reflects our collective vision for the future of Ondo State and demonstrates that when we work together, we can achieve great things for our people.”
Aiyedatiwa noted that the 2025 budget allocated significant resources to agriculture, infrastructure, education, healthcare, security, and social welfare, describing them as investments in the lives of the people.
“These allocations are not just numbers on a page; they are proposed investments in the lives and well-being of every resident of our State.
“It is through these resources that we will continue to create opportunities, improve livelihoods, and build a sustainable future for ourselves and generations to come,” he stated.
Toward ensuring accessibility and compliance, the governor disclosed that the 2025 budget would be available on the state’s budget portal from January 1, 2025.
Olamide Oladiji, the Speaker of the State House of Assembly, commended the governor for his unwavering commitment to advancing all critical sectors of the state’s economy.
He noted that the focus on holistic development was evident in the upward revision of the budget from N655.230 billion to N698.659 billion, reflecting the administration’s determination to meet the growing needs of the state.
