Economy
GOV. Lucky Aiyedatiwa of Ondo State, on Monday, assented to the N698.66 billion budget passed by the legislature for the 2025 fiscal year.
Aiyedatiwa signed the budget into law in Akure, witnessed by the Speaker of the House of Assembly, Chief Olamide Omidiji and some members of the State Executive Council
The News Agency of Nigeria (NAN) reports that the budget, christened “Budget of Recovery” has N433.622 billion (62.06%) and N265.037 billion (37.94%) allocated to Capital and Recurrent Expenditures respectively.
The governor said that 62.06 per cent of the budget was allocated to capital development in order to jump start the economy and initiate massive infrastructural renewal across the state.
This, Aiyedatiwa said, was with a view to providing the needed foundation for desired recovery.
“I wish to reiterate that the main objective of the budget is to make life easy for our people.
“This objective is sacrosanct and non-negotiable!
“It is our administration’s collective resolve to continue to break new grounds that will definitely usher in sustained prosperity for the good people of Ondo State.
“It is with great honour and a deep sense of responsibility that I stand before you today on the occasion of the signing of the year 2025 Appropriation Bill into Law.
“This is a critical moment for our administration, one that marks a significant step towards fulfilling the promises we made to the people of Ondo State during the electioneering processes,” he said.
Aiyedatiwa also appreciated the people of the state for the unwavering trust and confidence in his administration as evidenced by the votes he got during the Nov. 16 governorship election.
He said that fiscal discipline, accountability, transparency and full disclosure would be strictly enforced in implementation of the 2025 budget.
Earlier, the Speaker of the Ondo State House of Assembly, expressed happiness that the legislative was able to work and pass the budget within two weeks.
Oladiji also commended the priority attention the governor had given the economy and infrastructural development in the state. (NAN)
Photo Caption: Gov. Lucky Aiyedatiwa of Ondo State at the signing occasion of the budget into law
31st December, 2024.
C.E.
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