Ondo State Governor Signs N698.66 Billion Budget for 2025

Governor Lucky Aiyedatiwa of Ondo State signed into law the N698.66 billion budget for the 2025 fiscal year, with a significant 62.06% allocated to capital expenditures. The signing ceremony, held in Akure, was attended by the Speaker of the Ondo State House of Assembly, Chief Olamide Oladiji, and several members of the State Executive Council, as reported by the News Agency of Nigeria (NAN).

Dubbed the “Budget of Recovery,” the budget allocates N433.62 billion to capital expenditures, while N265.04 billion is dedicated to recurrent expenditures. Governor Aiyedatiwa emphasized that the substantial focus on capital expenditures aims to kickstart the state’s economy and initiate wide-ranging infrastructural renewal, providing a solid foundation for the state’s desired recovery.

The budget signing marks a pivotal moment for Aiyedatiwa’s administration, representing a significant step toward fulfilling the promises made to the people during the election campaign.

Key Highlights of the 2025 Budget

– The signed budget of N698.66 billion for Ondo State in 2025 represents an increase from the previously proposed N655.23 billion.

– A significant portion, N238.572 billion, is allocated to infrastructural development, emphasizing the government’s commitment to renewing and upgrading critical infrastructure to boost economic activity. This allocation will support projects in transportation, energy, and other essential sectors.

– N125.456 billion is earmarked for public finance, ensuring fiscal discipline and financial stability. This funding aims to maintain effective financial management and support the state’s long-term fiscal health.

– Education receives N77.024 billion, highlighting the government’s intention to improve educational standards, expand opportunities for students, and strengthen the overall education system in Ondo State.

– Agricultural development sees a substantial allocation of N56.102 billion, aimed at enhancing food security, supporting local farmers, and fostering rural growth.

– N46.016 billion is allocated to healthcare, focusing on improving the quality and accessibility of health services across the state.

– Further funding has been directed to other key sectors, including the administration of justice, trade and industry, and environmental management.