Governor Lucky Aiyedatiwa of Ondo on Tuesday, presented a budget proposal of N655.23bn for the 2025 fiscal year tagged “Budget of Recovery” to the State House of Assembly.
The 2025 budget proposal is higher than that of the total projected Budget outlay for 2024 Fiscal year which was N395.257b
Governor, while presenting the budget on the floor of the Assembly, Aiyedatiwa disclosed that infrastructure and development would gulp 36.40 percent of the total budget, which was followed by Education, which takes 11.80 percent, while Agricultural development attracts 8.60 percent of the total budget.
According to the governor is prepared to take care of the welfare of the people of the state in fulfillment of his promise to them during campaign.
He said: “This new administration that will start a new four-year journey come 24th February 2025 has promised a lot of programmes that are feasible and realistic for the good of everyone in our dear State.
“We shall take the welfare of all the citizens of Ondo with the seriousness it deserves through the 2025 Budget as means of consolidating on the lofty programmes that we have started.”
A total of N248.923bn representing 37.9 per cent was allocated for recurrent expenditure, while N406.307 billion, representing 62.01 per cent of the budget, was earmarked for capital expenditure.
Analysis of the budget showed that infrastructural development has the largest allocation with N238.572 billion, representing 36.40%, followed by public finance with N125.456 billion (19%), education with N77.024 billion (11.80%), and agricultural development with N56.102 billion (8.60%).
The administration of justice was allocated N132.163 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%).
Also, the general administration receives 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%).
Aiyedatiwa. said “We have delivered on our promises, and we now seek to consolidate our gains through the 2025 Budget”
He said that in preparation for the budget, the state team moved round all the local governments and interfaced with all stakeholders, include civil society organizations to make their input into the budget in line with the demands of the communities.
He said: “In the build up to the preparation of the 2025 estimates Mr. Speaker, we have continued in the process of participatory budgeting which we began few years ago and this has greatly increased the number and level of involvement of communities, Civil Society Groups (CSGs), the organised private sector, youth organisations, artisans, farmers and other stakeholders in the preparation of the 2025 Budget.”
Speaking on the 2024 fiscal budget, the governor said it became almost inoperable due to “full manifestation of the effect of fuel subsidy removal and the floating of the exchange rate which took inflation and energy cost to a record high.”
Aiyedatiwa promised to introduce entrepreneurial skill acquisition into secondary school academic curriculum.
He said: “Producing secondary school pupils without life skills is a recipe for disaster. That should not continue.
He commended members of the state House of Assembly for passing the 2024 Revised Appropriation Bill, which addressed the challenges posed by the removal of fuel subsidies and the economic downturn.
He noted that despite the global economic challenges, highlighted his administration’s achievements in agricultural development, infrastructure projects, and human capital development.
While speaking on the 2025 budget, the governor, said the budget was aimed towards addressing socio-economic challenges and ensuring prosperity for the people.
According to him, “The proposed budget focuses on enhanced infrastructure, agricultural development, and socio-economic welfare.
“Key priorities include improving food security, expanding human capital development, fostering infrastructure growth, and adopting sustainable economic models such as the blue economy, renewable energy investments, and education development.
“Hence, we are already piloting a model that would equip our secondary school enrollees with necessary ordinary-level certificates and as well give them technical life skills that would make them productive, even without university education.
“We want to be producing entrepreneurs, innovators, tech merchants, and job creators from our secondary schools. At least, three of such model secondary schools will be constructed in 2025.
“Mr. Speaker, all these lofty ideas will not detract us from completing the plethora of ongoing projects across the State as adequate fund has been allocated to all of them. There shall be no abandoned projects in the state.”
He assured the people of the state that his administration would complete all ongoing projects and foster a more prosperous future for Ondo.
Acknowledging the legacy of his predecessor, the late Rotimi Akeredolu, he expressed gratitude to the people of Ondo for their overwhelming support during the recent elections and for maintaining peace throughout the electoral process.
Responding, the Speaker of the House of Assembly, Rt Hon. Olamide Oladiji, assured the public that the budget would be scrutinised thoroughly to ensure it positively impacts every citizen.
He, however, promised accelerated consideration of the budget presented by the governor.
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