Ondo state governor Lucky Aiyedatiwa has proposed to spend the sum of N655,230,100.00 for the 2025 fiscal year.
The 2025 budget proposal is N193bn higher than the 2024 budget of N492.045,000.
The capital expenditure proposed for the 2024 budget was N246.73bn while the proposed recurrent expenditure was N245.3bn.
Speaking at the presentation of the 2025 budget before the Ondo State House of Assembly, Governor Aiyedatiwa said the 2024 recurrent expenditure posted a performance of N156.7bn while capital expenditure posted a performance of N49.96bn.
Governor Aiyedatiwa said the poor capital expenditure for 2024 was caused by what he termed ‘very prohibitive inflationary pressure.’
Christened Budget of Recovery, Governor Aiyedatiwa said the 2025 estimate was prepared after a very deep analysis of the world economic outlook as well as the implications for the national economy and the state.
Governor Aiyedatiwa said 62% of the 2025 budget estimate representing N406.3bn was allocated to capital expenditure while 38% representing N248.9bn was allocated for recurrent expenditure.
Aiyedatiwa said N7bn was proposed for upgrading health facilities across the state while N370m was proposed for the free school shuttle bus services.
According to him, “The above allocation is an eloquent testimony of our avowed commitment to transforming the socio-economic landscape of the State. Agriculture would be approached in an integrated manner in order to ensure food security in the State.
“Smallholder farmers would be assisted with inputs, particularly improved seedlings, to ensure that yield per hectare is substantially increased.
“Our intention on infrastructure revolution is clear. Most of the roads constructed during the times of Chief Adefarati and Dr. Olusegun Agagu (both of blessed memory) are already in deplorable condition. Therefore, an urgent revolution, tagged “Road Restore” will commence in the 2025 fiscal year. Furthermore, we will continue to install solar street lights on our roads such that in a few years, we will completely “Light up” Ondo State.
“Moreover, producing secondary school pupils without life skills is a recipe for disaster. 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.
“All these lofty ideas will not detract us from completing the plethora of ongoing projects across the State as adequate funds have been allocated to all of them. There shall be no abandoned projects in the State.”
