- Capital expenditure gets N433b (62.06%)
- Recurrent expenditure: N265b (37.94%)
Ondo State Governor Lucky Orimisan Aiyedatiwa on Monday signed the 2025 Appropriation Bill into law, a step he described as a bold and strategic step towards rebuilding the state’s economy and addressing critical socio-economic challenges.
Also, it marked a significant step at fulfilling the promises he made to the people of the state during the electioneering processes.
His Deputy, Dr. Olayide Adelami, state lawmakers, members of the executive council, and other key stakeholders witnessed the signing ceremony, held at the Exco Chamber of the Governor’s office in Akure, the state capital.
In his speech at the event, the governor said: “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.”
Totaling N698.659 billion, the budget allocates N433.622 billion (62.06%) to capital expenditure and N265.037 billion (37.94%) to recurrent expenditure.
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.”
He stressed 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.
According to him, “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.”
Highlighting the administration’s priorities, he 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.
His words: “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.”
Earlier in his welcome address, the Speaker of the Ondo State House of Assembly, Rt. Hon. Olamide Oladiji, applauded the Governor for what he called 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.
