Governor Biodun Oyebanji, of Ekiti State on Tuesday, presented the 2025 budget proposal of N375.79 billion to the State House of Assembly.
The proposed budget, allocated N192.3 billion (51%) for recurrent expenses and N183.5 billion (49%) for capital projects.
Presenting the budget to the assembly led by Speaker Adeoye Aribasoye, Oyebanji highlighted that the budget would build on his administration’s achievements in 2024.
He said : “Details of completed and ongoing projects were presented to this Honourable House during the State of the State address on October 16.
“The 2025 budget will be sourced through federal allocations, VAT, internally generated revenue from MDAs and tertiary institutions, international donor agencies, and other sundry sources.”
Oyebanji emphasised that the budget targets initiatives across six strategic pillars essential to Ekiti’s development : governance; youth development and job creation; human capital development; agriculture and rural development; infrastructure and industrialization; and arts, culture, and tourism.
“The 2025 budget is aimed at promoting sustainable prosperity.
“Our focus is on food security, wealth creation, and welfare.
“We are committed to equipping our people with the skills needed for economic growth, creating jobs, and positioning Ekiti as a premier destination for work, investment, and living,” he said.
The governor told the assembly that the proposed budget aligns with global best practices and adheres to policies on fiscal sustainability and open governance.
According to Oyebanji, special emphasis would be placed on supporting the informal sector and providing an enabling business environment.
To bolster small businesses, Oyebanji announced plans for empowerment programs for MSMEs, grants, and access to credit facilities for cooperatives.
The government, he said, would strengthen the Ekiti State Internal Revenue Service and other revenue-generating MDAs to enhance revenue collection.
The governor further outlined the budget’s objectives, including boosting agriculture to ensure local food security, advancing quality healthcare, fostering youth engagement, and creating a tech-driven, efficient public service.
He also highlighted plans to enhance Ekiti’s appeal as a destination by promoting tourism, cultural heritage, and community-friendly amenities.
Speaker Aribasoye commended Oyebanji for his accomplishments over the past two years.
He promised that the Assembly would forgo its scheduled recess to expedite budget deliberations.
“The urgency to review and pass this budget reflects our commitment to sustaining Ekiti’s development,” he said.
He added that lawmakers remained dedicated to accountability and transparent governance.
(vitalnewsngr.com)
