Governor Dapo Abiodun on Wednesday presented the Year 2025 Appropriation Bill of N1,054,542,020,147.47 before members the State House of Assembly, consisting of N453.56Bn as recurrent expenditure and N600.98Bn as capital expenditure.
Earlier, Governor Abiodun also took up time to inaugurate the newly redesigned State Assembly Complex built over 45 years ago.
The 2025 budget christened, “Budget of Hope and Prosperity”, presented by the Governor at a plenary session presided by the Speaker, Rt. Hon. Oludaisi Elemide, comprised N120.14Bn for personnel costs, N37.49Bn as consolidated revenue cost while N76.07Bn was earmarked for public debt charge, just as overhead cost was put at N219.86Bn, with N600.98Bn to cater for capital expenditure.
Giving the sectoral breakdown of the proposed budget, Governor Abiodun explained that the Education sector would get N177.835Bn representing 17%, while N134.538Bn amounting to 13% was allocated to health sector, while N66.382Bn being 6% was proposed for the Housing & Community Development, just as Agriculture/Industry would gulp N65.38Bn representing 6%, with infrastructure taking N284.4Bn being 27%, leaving N25.27Bn being 2% for recreation, culture and religion.
Other sectors including Social Protection secured N39.83Bn resulting to 4%, with General Public Service – Executive Organ allocated 4% being N46.86Bn, just as General Public Service – Financial & Fiscal Affairs were allotted 4% resulting into N42.28Bn, while 0.3% being N2.91Bn was to cater for General Public Service – General Personnel Service, with Public Order & Safety to get 3% being N26.44Bn. Also, Economic Affairs was allocated N5.97Bn being 0.6%, just as Judiciary was given 1% resulting into N10.54Bn , with the Legislature to take 2% being N21.18Bn, with the remaining N104.6Bn being 10% allocated to Statewide.
Giving an explanation of the Budget, Abiodun revealed that the 2025 Budget proposals would address the challenges facing the State and outline sustainable strategies to overcome them, adding that the expenditure policy for 2025 aligned with the State Economic Development Plan and Strategy (2021–2025), targeting fiscal sustainability, human development, food security, a favorable business environment, energy sufficiency, enhanced transport infrastructure, and industrialization with a focus on Small and Medium Enterprises (SMEs).
According to the Governor, “as the Sixth Budget of this administration, the 2025 Appropriation Bill, titled: “Budget of Hope and Prosperity,” reflects current challenges, essential reforms, and the need for inclusive, diversified, and sustainable growth. It aims to stimulate economic growth, reduce inequality, and improve citizens’ well-being. The budget prioritizes infrastructure, healthcare, housing, security, education, youth empowerment, job creation, and agriculture, with policies designed to drive recovery and transformation during economic turbulence.
This budget strives to balance fiscal responsibility with improved public service delivery; ensuring resources are used effectively to maximize prosperity for all, by tackling immediate issues like unemployment and poverty, while investing in long-term growth. It serves as a roadmap for economic and social progress. Its vision is to inspire hope, foster unity, and strengthen public trust in the government’s ability to manage resources responsibly and guide the State toward a more equitable and sustainable future”, Governor Abiodun remarked.
Giving an appraisal of the present year 2024 Budget, he revealed that the State had achieved 79% of its pro-rated revenue target and 56% of the pro-rated expenditure target, adding that the performance over the past few years underscored the State’s fiscal reliability, with an optimism of giving the State a stronger financial base.
In his opening remarks, the Speaker, Rt. Hon. Elemide, who appreciated Governor Abiodun for the renovation of the State Assembly Complex and other infrastructural projects which had contributed to the overall well-being and working conditions of the lawmakers and staffers, explained that the presentation of the yearly Appropriation Bill remained a constitutional requirement towards ensuring judicious allocation and utilization of public funds in the coming year.
Elemide lauded the present administration’s ongoing legacy projects, including the Agro Cargo International Airport, the Remo Special Agro-industrial Processing Zone, the resuscitated Kajola Free Export Processing Zone, the Inland Dry Port at the Dry Port City Sodipo Village, Papalanto and the road infrastructure, revealing that the Assembly had in the last 18 months, considered 14 bills out of which nine had been passed.
Elemide posited that 32 motions were passed into Resolutions, which covered a wide range of issues, while conducting oversight functions on all Ministries, Department and Agencies (MDAs), with over 40 issues resolved amicably under the quasi-judicial function of the Assembly. He sought the need for a Special Court to enforce the Anti-Land Grabbing Law as land related disputes had accounted for over 80% of all petitions received by the House.
Calling for the financial autonomy for the State Legislature to enhance efficient discharge of its constitutional duties, the Speaker further commended the Governor for improved welfare for Members of staff, with a request for more initiatives that would ease the working conditions of the lawmakers and the workforce.
In his closing remarks, Elemide noted that the presentation of the 2025 Appropriation Bill was another clarion call on all and sundry, to rise to the upliftment of the socio-economic development of the State, assuring that the Lawmakers would continue to strive to ensure the timely passage of the Appropriation Bill for the coming year, as well as monitoring its implementation through oversight functions to ensure its benefit to the people.
He assured that the Assembly would always cooperate and support other arms of government in the onerous task of ensuring peace, security and welfarism of the people, which remain a joint task in governance.
Dignitaries present at the budget presentation included the State Deputy Governor, Engr. Noimot Salako-Oyedele, the Secretary to the State Government, Mr. Tokunbo Talabi, former deputy Governors, Senator Shefiu Kaka and Yetunde Onanuga, State Head of Service, Kehinde Onasanya, former Heads of Service, Members of the State Executive Council, members of body of Permanent Secretaries, Paramount Rulers of Yewaland, Egbaland and Remoland and party stalwarts amongst others.
Credit: Lawal Abbey
ADVERTISEMENT
