‘Budget of Recovery’ Allocates N433B for Capital Expenditure, N265B for Recurrent Expenditure
Ondo State Governor, Hon. Lucky Orimisan Aiyedatiwa, has officially signed the 2025 Appropriation Bill into law, taking a key step toward fulfilling his electoral promises to the people of Ondo State.
The signing ceremony took place on Monday at the Exco Chamber in the Governor’s office in Akure, and was attended by Deputy Governor Dr. Olayide Adelami, state lawmakers, members of the executive council, and other key stakeholders.
At the event, Governor Aiyedatiwa described the 2025 fiscal plan, aptly named the “Budget of Recovery,” as a decisive move to rejuvenate the state’s economy and tackle pressing socio-economic challenges.
“This marks a pivotal moment for our administration and represents our commitment to fulfilling the promises made to the people of Ondo State during the election campaigns,” the Governor stated.
The 2025 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 prioritization of capital expenditure, saying, “We have intentionally directed a larger portion of the budget toward capital development to drive economic recovery and instigate large-scale infrastructural renewal across the state. Our main goal is to improve the lives of our people—this is non-negotiable.”
The Governor emphasized that the budget represents the collective vision of Ondo State’s residents, with contributions gathered from stakeholders during town hall meetings across the state.
“The budget is a reflection of our shared aspirations for Ondo State. It shows that when we collaborate, we can achieve great things for our people,” he added.
Governor Aiyedatiwa outlined key priorities of the budget, including agriculture, infrastructure, education, healthcare, security, and social welfare. He described these areas as investments in the well-being of every resident of Ondo State.
“These allocations are more than just figures on a page; they are investments that will create opportunities, enhance livelihoods, and build a sustainable future for our state and generations to come,” he stated.
The Governor also announced that the 2025 budget would be made available on the state’s budget portal from January 1, 2025, ensuring transparency and accountability in its implementation.
“The 2025 budget is integral to achieving the O’DATIWA O’DIRORUN (OUR EASE) goals, and we are committed to its efficient and responsible implementation,” he assured.
Governor Aiyedatiwa reaffirmed his administration’s commitment to economic development, sustainable food security, community resilience, and social inclusion. He expressed confidence that the state would continue its progress in these critical areas.
In his welcome address, the Speaker of the Ondo State House of Assembly, Rt. Hon. Olamide Oladiji, commended the Governor for his steadfast dedication to the state’s development.
He highlighted the increase in the budget from N655.230 billion to N698.659 billion, reflecting the administration’s response to the state’s growing needs. The Speaker also praised the Governor for signing several key legislative frameworks into law, including the Agriculture Law, Transparency Law, Building Plans Law, and Anti-Land Grabbing Law, all aimed at promoting good governance and economic growth.
The Speaker reaffirmed the Assembly’s commitment to supporting the Governor’s developmental agenda and urged all stakeholders to work together to ensure the effective implementation of these transformative initiatives.
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