…passes UNIMED, Anti-grabbing bills

By Josephine Oguntoyinbo

The Ondo State House of Assembly has passed the state’s 2025 fiscal budget into law, approving a total of N698,659,496,000.

Of the approved amount, N265,037,496,000 (47.94%) is earmarked for recurrent expenditure, while N433,622,000,000 (62.06%) is allocated to capital expenditure. Notably, the Ondo State Oil Producing Area Development Commission (OSOPADEC) is to receive N10.1 billion from the capital allocation.

The budget was increased by N43,429,496,000 above the N655.230 billion initially proposed by Governor Lucky Aiyedatiwa when he presented the 2025 “Budget of Recovery” to the Assembly. The new figure is significantly higher than the N395.257 billion budget of the 2024 fiscal year.

During a plenary session presided over by Speaker Olamide Oladiji, the Chairman of the House Committee on Finance and Appropriation, Oluwole Ogunmolasuyi, presented the committee’s report. Ogunmolasuyi noted that the budget was adjusted to reflect current economic realities, including the removal of fuel subsidies, fluctuating exchange rates, and the recent minimum wage increase.

“Initially, a sum of N655,230,000,000.00 was presented to the House in the Appropriation Bill. In the course of budget consideration, careful scrutiny of figures was undertaken, comparing the current year’s expenditure with the 2024 proposal. The Committee observed that fiscal priorities have shifted, necessitating adjustments,” he stated.

Ogunmolasuyi explained that while the committee avoided granting additional requests from MDAs except in critical areas, an increase of N43.43 billion was approved to address essential needs.

He highlighted the impact of hyperinflation on cost projections and urged MDAs to intensify efforts in revenue generation.

The committee also recommended regular budget evaluation and town hall meetings to ensure the budget’s objectives are achieved.

The recommendations included urging the state government to prioritise attaining its independent revenue targets, ensure necessary adjustments align with the people’s urgent needs, and collaborate with relevant agencies to boost revenue in line with existing laws.

After deliberations and a third reading, the House adopted the report through a majority voice vote.

In his remarks, Speaker Oladiji expressed optimism that the 2025 budget would stimulate economic growth and enable the execution of new projects and programmes critical to the state’s development.

He commended Governor Aiyedatiwa’s leadership and emphasised the importance of collaboration between the executive and legislative arms for the state’s progress.

Additionally, the Assembly passed two other significant bills into law. One amends the Ondo State University of Medical Sciences Law, 2015, while the other prohibits forceful entry, illegal occupation of landed property, and violent or fraudulent conduct related to land matters in the state. Both bills were passed after scaling through their third readings.