Aiyedatiwa Presents N655.2bn 2025 Budget to Ondo Assembly

Ondo State Governor, Hon. Lucky Aiyedatiwa, on Tuesday presented a budget proposal of ₦655.23 billion for the 2025 fiscal year to the State House of Assembly. The budget, tagged the “Budget of Recovery,” was introduced during a plenary session presided over by the Speaker, Rt. Hon. Olamide Oladiji, at the Assembly Complex in Akure.

The budget proposal allocates ₦248.923 billion (37.99%) for recurrent expenditure and ₦406.307 billion (62.01%) for capital expenditure. This budget is significantly higher than the ₦395.257 billion allocated for 2024.

In a breakdown of the budget, ₦238.572 billion (36.40%) is earmarked for infrastructure development, followed by ₦125.456 billion (19%) for public finance, ₦77.024 billion (11.80%) for education, and ₦56.102 billion (8.60%) for agricultural development. Other allocations include ₦46.016 billion (7%) for health, ₦13.163 billion (2.80%) for administration of justice, and smaller amounts for sectors like environment, trade, energy, and regional development.

Governor Aiyedatiwa also updated the Assembly on the performance of the 2024 fiscal year, revealing that the state’s budget was revised from ₦395.257 billion to ₦492.045 billion due to inflation and the removal of fuel subsidies. Despite challenges, the state achieved a ₦352.1 billion revenue collection by the third quarter, representing 71.56% of the target.

The Governor emphasized that the proposed 2025 budget focuses on key priorities like enhancing infrastructure, improving food security, developing human capital, and supporting sustainable economic models like the blue economy and renewable energy investments.

Aiyedatiwa also reflected on his administration’s commitment to align with the Renewed Hope Agenda of President Bola Tinubu and leverage the entrepreneurial enthusiasm of the Ondo people to stimulate economic growth in the coming year.