- ‘Budget of Recovery’ allocates N433b (62.06%) to capital expenditure, N265b (37.94%) to recurrent expenditure
The Governor of Ondo State, Hon. Lucky Orimisan Aiyedatiwa, has signed the 2025 Appropriation Bill into law, marking a significant step at fulfilling the promises he made to the people of Ondo State during the electioneering processes.
The signing ceremony, held on Monday, at the Exco Chamber, Governor’s office, Akure, was attended by Deputy Govenor, Dr Olayide Adelami, state lawmakers, members of the executive council, and key stakeholders.
Speaking at the event, Governor Aiyedatiwa described the 2025 fiscal plan, aptly christened the “Budget of Recovery,” as a bold and strategic step towards rebuilding the state’s economy and addressing critical socio-economic challenges.
“This is a critical moment for our administration, one that marks a significant step towards fulfilling the promises we made to the people of Ondo State during the electioneering processes,” he said
The budget, totaling N698.659 billion, allocates N433.622 billion (62.06%) to capital expenditure and N265.037 billion (37.94%) to recurrent expenditure.
Governor Aiyedatiwa explained the deliberate prioritization of capital development, stating, “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.”
The Governor emphasized that the budget reflects the collective aspirations of Ondo State residents, noting that it was crafted with inputs from stakeholders during town hall meetings across the state.
“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,” he added.
Highlighting the administration’s priorities, Governor Aiyedatiwa noted that the 2025 budget allocates significant resources to agriculture, infrastructure, education, healthcare, security, and social welfare. He described these allocations 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.
To ensure accessibility and compliance, the Governor announced that the 2025 budget would be available on the state’s budget portal from January 1, 2025.
“The 2025 budget is a tool for achieving the O’DATIWA O’DIRORUN (OUR EASE) goals, and we will ensure its implementation is done with utmost responsibility and efficiency.
“I want to reassure the good people of Ondo State that our government remains focused on its goals of economic development, achieving sustainable food security, resilient community development, and the facilitation of social inclusion and security,” he affirmed.
Earlier in his welcome address, the Speaker of the Ondo State House of Assembly, Rt. Hon. Olamide Oladiji, applauded Governor Aiyedatiwa for his unwavering commitment to advancing all critical sectors of the state’s economy.
He noted that this focus on holistic development is 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.
The Speaker also commended the Governor for signing into law several key legislative frameworks, including the Agriculture Law, Transparency Law, Building Plans Law, and the Anti-Land Grabbing Law.
He emphasized that these laws represent a significant stride in promoting good governance, fostering economic growth, and ensuring social justice across Ondo State.
The Speaker reaffirmed the Assembly’s commitment to supporting the Governor’s developmental agenda, urging all stakeholders to work collectively to ensure the effective implementation of these transformative initiatives.
Prince Ebenezer Adeniyan,
Chief Press Secretary to the Governor of Ondo State.
December 30, 2024.