By Victor Akinkuolie, Ado-Ekiti
Ekiti State Governor, Mr. Biodun Oyebanji, on Tuesday presented a budget estimate of N375,790,077,618.15 for the 2025 fiscal year, with a focus on food security, employment generation, and wealth creation.
Presenting the Appropriation Bill to members of the Ekiti State House of Assembly at the Assembly Complex, Ado-Ekiti, Oyebanji explained that the budget estimate was crafted in line with global best practices to drive the Shared Prosperity agenda of his administration.
The Governor received applause from state legislators, led by the Speaker, Adeoye Aribasoye, for executing the 2024 Budget without any internal or external borrowing and achieving commendable budget performance over the past year.
According to the 2025 budget estimate laid before the state parliament, N192,326,570,488.61, representing 51 per cent of the total, was allocated for recurrent expenditure, while N183,463,507,129.54, representing 49 per cent, was earmarked for capital expenditure.
This stands in contrast to the 2024 fiscal year budget size of N150,575,481,915.00, out of which N88,952,583,682.41 was for recurrent expenditure, while N70,619,898,233.20 was designated for capital expenditure.
Governor Oyebanji explained that the recurrent expenditure include personnel and overhead costs, social contributions and benefits, debt servicing, and grants, while capital expenditure relates to the cost of infrastructure and other developmental projects.
The Governor noted that the budget preparation was aligned with his administration’s inclusive governance policy, incorporating inputs from communities across the three senatorial districts during town hall meetings.
He added that the 2025 budget was carefully prepared to build on the gains of the 2024 Budget, with improvements to the agriculture sector to boost food security, grants for business owners, and support for micro, small, and medium enterprises.
The Governor further assured that provisions had been made in the 2025 Budget for the proposed new minimum wage, and attention would be given to completing ongoing infrastructure projects in various parts of the state.
Expressing gratitude to the people of Ekiti for their “overwhelming support” for his administration, Governor Oyebanji also thanked President Bola Ahmed Tinubu for what he described as the President’s “strong support” for the state.
The Governor listed priority projects for the 2025 budget, including road and water sanitation projects.
He said: “The proposed 2025 Budget will focus on food security, wealth creation, and the welfare of our people. Our Shared Prosperity agenda is anchored on six strategic pillars, covering all sub-sectors of the economy.
“Our goal is to create sustainable prosperity and grow the economy by equipping our people with essential skills, creating jobs for our youths and women, expanding access to information and communication technology, and increasing opportunities for all.
“We are committed to creating a conducive environment for investors, positioning Ekiti State as the preferred destination to live, work, and invest.
“While we strive to bridge the infrastructure gap, we are also working to create an enabling environment for investors in the State to boost our Gross Domestic Product (GDP).
“I reiterate our administration’s commitment to providing essential public infrastructure for sustainable economic growth. We will focus on completing ongoing infrastructure projects across the State in the coming year.”
In his remarks, Aribasoye urged Assembly members to suspend planned trips to prioritise urgent duties, including the consideration of the Appropriation Bill.
The Speaker emphasised that reviewing the Appropriation Bill gives legislators an opportunity to align fiscal decisions with the aspirations and welfare of their constituents, urging them to commit themselves fully to the task.
Aribasoye encouraged his colleagues to thoroughly scrutinise the budget proposal through Standing Committees, calling on Ministries, Departments, and Agencies to be prepared to defend their proposals.
He said: “We must ensure every Naira allocated serves the interests of the people of Ekiti State. We must be champions of accountability and stewards of public trust. The Budget must represent the aspirations of Ekiti people.”
The ceremony was attended by Deputy Governor Chief (Mrs) Monisade Afuye; Secretary to the State Government, Dr. Habibat Adubiaro; Head of Service, Dr. Folake Olomojobi; members of the State Executive Council, former Assembly members, and traditional rulers led by the Ewi of Ado Ekiti, Oba Adeyemo Adejugbe.
