Ondo State Governor, Hon. Lucky Orimisan Ayedatiwa on Tuesday, presented the budget for year 2025 to the Ondo State House of Assembly.
The budget Christened "Budget of Recovery" has a total of six hundred and fifty five billion, two hundred and thirty million naira (N655,230,000,000).
Two hundred and forty eight billion, nine hundred and twenty three million (N248,923,000,000) is for Recurrent Expenditure, while four hundred and six million, three hundred and seven million (N406,307,000,000) is for Capital Expenditure.
Twenty eight billion and seventy five million (N28,075,000,000) is from statutory allocation, forty billion, five hundred million (N40,500,000,000) is from Independent Revenue, seventy one billion, five hundred and fifty nine million (N71,559,000,000) is from Value Added Tax, twenty one billion, two hundred and fifty million (N21,250,000,000) is from Mineral Derivation, sixty billion (N60,000,000,000) is from other FAAC Revenue, thirty one billion, four hundred and ninety three million (N31,493,000,000) is from grants, one hundred and ninety four billion, two hundred and fifty eight million (N194,258,000,000) is from financing.
In his address, Governor Aiyedatiwa pointed that the objectives of the 2025 budget includes; Sustenance of Human Capital Development drive of the current administration, achieve sustained food security, Increased investment in infrastructure, facilitate social inclusion and social security, refocused drive on Independence Revenue (IR) generation, among others.
He noted that the achievements of the present administration includes; Rural and Agricultural Development, Educational Advancement and Human Capital Development, Infrastructural Development, Efficient Service Delivery Development and Policy, Effective Healthcare and Social Welfare, Maintenance of Law and Order for Adequate Security, Energy, Mining and Sustainable Industries and Digital Revolution and Entrepreneurship.
The Governor said "the resolve of our administration to make life easy for our people is non-negotiable. This is in line with our campaign slogan for the recently concluded Ondo State gubernatorial election of 16th November, 2024 in which we recorded an unprecedented victory in all the 18 Local Governments of the State.
"We are fully determined to explore the economic reform agenda of the Federal Government as encapsulated in the RENEWED HOPE AGENDA of President Bola Ahmed Tinubu, GCFR; and the enormous goodwill and entrepreneurial enthusiasm of our people in the best possible way to record an economic upturn in the New Year.
"In the outgoing year, our budget was christened BUDGET OF RESILIENCE. Our people have demonstrated unwavering resilience and uncommon courage that had enabled us sail through despite all odds. We have therefore set for ourselves a path to socio-economic recovery in the 2025 BUDGET OF RECOVERY, with a bold resolve to break new grounds that will usher in prosperity for the good people of Ondo State.
"We are committed to supporting and sustaining the ongoing efforts to enhance our Independent Revenue (IR) led by the Ondo State Internal Revenue Service (ODIRS). We will encourage all revenue generating MEDAs to introduce full automation of all forms of revenue collection.
"Our administration shall lay more emphasis on "people oriented" projects with clear economic and social benefits in the year 2025 Budget".
He emphasized that there shall be no abandoned projects in Ondo State.
Appreciating the Speaker and his team, the Governor said "your leadership has fostered a spirit of peace and unity between the Legislative and Executive arms of government. Your commitment to responsible and responsive governance has been instrumental in building trust and confidence among our citizens. Thank you for your dedication to our State's progress.
"We shall, therefore, be looking forward to a year 2025 that will bring substantial joy and happiness to the people we have been elected to serve", he concluded.
In his reaction, the Speaker, Ondo State House of Assembly, Rt. Hon. Olamide Oladiji stated that the Budget presentation is in tandem with the provision of the Constitution of the Federal Republic of Nigeria, 1999 (as Amended), that makes it statutory for every Government to present its yearly Appropriation Bill before the Legislature whose members are the direct representatives of the people for Legislative consideration and ratification.
The Speaker commended Governor Aiyedatiwa for the undiluted attention his administration accords to every sector of the economy in the State.
While urging everyone to continue to support the present administration in a bid to realize the Ondo State that we all envision, Oladiji assured the State Government that the fiscal document will be given the desired Legislative attention as expected.
The bill was, therefore, committed to the Committee of Finance and Appropriation after it scaled through Second Reading.
The budget presentation had in attendance, Deputy Governor, Dr Olayide Adelami, Secretary to the State Government, Hon. Tayo Oluwatuyi, members of the State Executive Council, as well as other top politicians and government's officials.
