By HeapNews
Ondo State Governor Lucky Orimisan Aiyedatiwa has presented a budget proposal of N655.23 billion for the 2025 fiscal year to the State House of Assembly. Titled the “Budget of Recovery,” the budget aims to address socio-economic challenges, drive infrastructure growth, and improve the lives of citizens.
The budget breakdown allocates N248.92 billion (37.99%) for recurrent expenditure and N406.31 billion (62.01%) for capital expenditure. Infrastructure development received the largest share with N238.57 billion (36.40%), followed by public finance (N125.46 billion, 19%), education (N77.02 billion, 11.80%), and agriculture (N56.10 billion, 8.60%).
Speaking during the plenary session, presided over by Speaker Olamide Oladiji, Governor Aiyedatiwa expressed gratitude to the people of Ondo State for their support during the recent election and acknowledged the contributions of his predecessor, the late Arakunrin Odunayo Oluwarotimi Akeredolu, SAN.
“By the grace of God, we have delivered on our promises, and we now seek to consolidate our gains through the 2025 Budget,” the governor stated.
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Key Highlights
- Electricity Distribution: The state has introduced the Ondo State Mass Metering Scheme (O’Datiwa Meter) to improve electricity distribution in underserved areas. Additionally, provisional licenses have been issued to Anyingba Independent Electricity Distribution Company and BEDC Electricity Ondo Limited to enhance power supply across the state.
- 2024 Fiscal Update: Revenue collection for 2024 reached N352.1 billion by Q3, representing 71.56% of the target. Inflation and fuel subsidy removal prompted a revision of the budget from N395.26 billion to N492.05 billion.
- 2025 Focus Areas: The proposed budget prioritizes food security, human capital development, and sustainable economic models, including renewable energy, the blue economy, and enhanced education.
Legislative Response
In his remarks, Speaker Oladiji praised the governor’s achievements, which he credited for the governor’s electoral success. He assured citizens that the Assembly would thoroughly scrutinize the proposal to ensure it benefits all.
“The Assembly is committed to ensuring that this budget reflects the aspirations of the people of Ondo State,” Oladiji affirmed.
Governor Aiyedatiwa concluded his presentation by reaffirming his commitment to ongoing projects and a prosperous future for the state.