Oyebanji presents N375bn 2025 budget to House of Assembly

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Ekiti State Governor Biodun Oyebanji on Tuesday presented a budget estimate of N375.79 billion for the 2025 fiscal year, with a focus on food security, employment, and wealth creation.

A statement on the statement government’s Facebook page said the governor presented the Appropriation Bill to members of the Ekiti State House of Assembly at the Assembly Complex in Ado-Ekiti.

Governor Oyebanji highlighted that the budget was crafted to align with global standards, supporting his administration’s Shared Prosperity agenda.

The 2025 budget allocates N192.33 billion (51%) for recurrent expenditure and N183.46 billion (49%) for capital projects.This marks a significant increase from the 2024 budget of N150.58 billion, which included N88.95 billion for recurrent and N70.62 billion for capital expenditure.

Oyebanji clarified that recurrent expenditures would cover personnel costs, overheads, social contributions and benefits, debt servicing, and grants, while capital expenses would fund infrastructure and development projects.

The governor emphasised that the budget preparation process was inclusive, drawing on input from community members during town hall meetings across the three senatorial districts of Ekiti.

He noted that the 2025 budget aims to build on the gains of the previous year by strengthening the agricultural sector to enhance food security, providing grants to business owners, and supporting micro, small, and medium enterprises.

Governor Oyebanji also assured that the new budget accounts for the proposed minimum wage increase and the completion of ongoing infrastructure projects.

He expressed gratitude to the people of Ekiti for their “overwhelming support” and extended appreciation to President Bola Tinubu for his “strong support” of the administration’s efforts.

Highlighting key projects, the governor listed priority areas in 2025 to include road development, water supply, and sanitation projects.

“The proposed 2025 Budget will focus on food security, wealth creation and welfare of our people. It is important to reiterate that our Shared Prosperity agenda is hinged on six strategic pillars, which cut across all the sub-sectors of the economy.

“Our objective is to create sustainable prosperity and grow the economy by equipping our people with the requisite skills, creating jobs for our youths and women, exposing them to information communication technology and expanding the range of opportunities available for everyone.

“We are poised to sustain and create a more conducive environment for investors and make Ekiti State the preferred destination to live, work, and invest.

“While we are making a concerted effort to bridge the infrastructure deficit, we are also poised to create the enabling environment for investors in the State to increase our Gross Domestic Product (GDP).

“Therefore, I wish to reiterate the commitment of our administration to provide basic and essential public infrastructure for sustainable economic growth. Accordingly, we shall focus on completing ongoing infrastructure projects across the State in the coming year.”

Speaking, Speaker Aribasoye called on all Assembly members to suspend any planned travels to focus on pressing legislative responsibilities, particularly the review of the Appropriation Bill.

He emphasised that this bill gives legislators a critical chance to align financial decisions with the needs and aspirations of the constituents they serve.

Aribasoye urged his colleagues to commit fully to a thorough examination of the budget proposal, encouraging each Standing Committee to rigorously scrutinize it.

He also advised Ministries, Departments, and Agencies to be prepared to defend their budget requests.

“We must ensure that every Naira allocated serves the people of Ekiti State. As champions of accountability and stewards of public trust, it is our duty to make sure that the budget reflects the true aspirations of the Ekiti people.”