Governor Abdulrahman Abdulrazaq, has presented the 2025 budget proposal of N540.37 billion to the Kwara State House of Assembly.
Presenting the budget in Ilorin on Friday, Abdulrazak identified infrastructure, social protection, and educational development as sectors to be given priority in 2025.
Tagged the “Budget of Economic Stability and Sustained Prosperity,” 62.1% of the fiscal plan is allocated to capital expenditure, while recurrent expenditure takes 37.9%.
Highlighting his administration’s commitment to completing ongoing projects and starting new ones, the governor announced key initiatives, including the construction of 250 mass housing units and inner roads within the Smart City.
He also prioritized the reconstruction of stadia in Offa and Lafiagi, along with new road projects in Kwara South, North, and Central.
“Our focus remains on delivering transformative projects that touch the lives of every Kwaran.
“This budget reflects our commitment to fulfilling promises as resources permit,” Abdulrazak said.
Key Allocations : Social Sector; 32.50% allocated to youth and women empowerment programs, and anti-poverty initiatives.
Education: 16.2% to strengthen existing institutions and establish the new University of Education.
Health: 10.56% for healthcare development and free medical interventions, Works and Transport: 17.51% for road construction and maintenance.
The governor also unveiled plans for a multi-story CourtHouse, described as the best of its kind in northern Nigeria, and the upgrade of the Metropolitan Square.
Governor Abdulrazaq also reflected on the progress made in 2024 to include
Support for 171,649 farmers and provision of N2.2bn worth of farm inputs.
Funding education for over 180,000 students across various examinations.
Funding of social programs benefiting 70,000 vulnerable people, Urban renewal projects transforming Ilorin into a modern city.
The Governor also noted that the state’s debt burden was reduced from N109.16bn in 2023 to N58.87bn by the third quarter of 2024.
The budget is based on projected oil prices of $75 per barrel and daily production of 2.06 million barrels, with funding from : FAAC receipts: 48.1%, Internally Generated Revenue (IGR), opening balance, and other capital receipts: 51.9%.
Speaker of the House, Yakubu Danladi-Salihu, commended the Governor over the achievements and promised swift deliberation on the budget.
“Your administration has demonstrated transparency, accountability, and fiscal discipline.
“We will work diligently to ensure timely approval of this proposal to sustain the momentum of progress across the state,” the Speaker said.
The Speaker also acknowledged the administration’s efforts in education, health, and agriculture, particularly through the payment of counterpart funds to development partners.
Accompanied by traditional rulers, clergymen, and security officials, the governor expressed gratitude to stakeholders for their continued support.
(vitalnewsngr.com)
