Governor Lucky Aiyedatiwa of Ondo State has submitted a budget proposal of N655 billion for the approval of the State House of Assembly for the 2025 fiscal year.
Out of the budgetary allocation, Aiyedatiwa said the recurrent expenditure would gulp N248.9 billion while the rest N406 billion would go for capital expenditure.
In the recurrent expenditure, Aiyedatiwa said N102.7, representing 15.68 percent, would go for salary and wages, overheads take N50 billion, grants and contributions N26.4 billion, statutory transfers N18.2 billion, social contribution and social benefits N29 billion.
Aiyedatiwa, the rest, N406 billion, representing 36.4 percent, would be spent on infrastructure and development projects. Also, education would take 11.80 percent of the budget while Agricultural development attracts 8.60 percent of the total budget.
In the budget titled “Budget of Recovery,” Aiyedatiwa said his administration is prepared to take care of the welfare of the people of the state in fulfillment of his promise to them during the campaign.
He said: “This new administration that will start a new four years journey come 24th February, 2025 has promised a lot of programmes that are feasible and realistic for the good of everyone in our dear State.
“We shall take the welfare of all the citizens of Ondo State with the seriousness it deserves through the 2025 Budget as means of consolidating on the lofty programmes that we have started.”
Governor Aiyedatiwa disclosed that in preparation for the budget, the state team moved around all the local governments and interfaced with all stakeholders, including civil society organizations, to make their input into the budget in line with the demands of the communities.
His words “In the build-up to the preparation of the 2025 estimates Mr. Speaker, we have continued in the process of participatory budgeting which we began a few years ago and this has greatly increased the number and level of involvement of communities, Civil Society Groups (CSGs), the organised private sector, youth organisations, artisans, farmers and other stakeholders in the preparation of the 2025 Budget.”
Speaking on the 2024 fiscal budget, the governor said it became almost inoperable due to “full manifestation of the effect of fuel subsidy removal and the floating of the exchange rate which took inflation and energy cost to a record high.”
Aiyedatiwa promised to introduce entrepreneurial skill acquisition into the secondary school academic curriculum.
He said: “Producing secondary school pupils without life skills is a recipe for disaster. That should not continue. Hence, we are already piloting a model that would equip our secondary school enrollees with necessary ordinary-level certificates and as well give them a technical life skill that would make them productive, even without a university education.
“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.
“Mr. Speaker, 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.”
