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    HomeNewsPolitics & GovernanceAdeleke presents N390bn 2025 budget to Assembly as Makinde proposes N678.86bn for...

    Adeleke presents N390bn 2025 budget to Assembly as Makinde proposes N678.86bn for economic stabilisation

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    The Osun State Governor, Ademola Adeleke has presented the sum of N390, 028, 277,740.00 as 2025 appropriation bill before the State House of Assembly.

    Presenting the appropriation bill before the Speaker and other lawmakers at the floor of the Assembly on Wednesday, Governor Adeleke said the budget proposal comprises of One Hundred and Forty-Four Billion, Two Hundred and Thirty-One Million, One Hundred and Eighty-Three Thousand, Eight Hundred Naira (N144, 231,183, 800), as capital expenditure and Two Hundred and Forty Five Billion, Seven Hundred and Ninety Seven Million, Ninety Three Thousand, Nine Hundred and Forty Naira Only( ₦ 245,797,093,940.00) recurrent expensiture.

    In a statement made available to newsmen by the Governor’s spokesperson, Olawale Rasheed, the Governor stated that the State is expected to generate revenue from both the Federal Allocation and internally generated revenue.

    It reads, “Our Revenue consists of Recurrent Revenue, where Government share of FAAC is One Hundred and Ninety Six billion, Seven Hundred and Seventy Eight Million, Nine Hundred and Seventy Five Thousand, One Hundred and Eight Naira Only (₦ 196, 778, 975,180.00 and Independent Revenue is One Hundred and Nine Billion, Eight Hundred and Seventy Million, Nine Hundred and Thirty Two Thousand, Eight Hundred and Thirty Naira Only (₦109, 870, 932, 830.00).

    Also, the Oyo State governor, ‘Seyi Makinde has presented a proposed budget estimate of N678,086,767,322,18 to the state House of Assembly for legislative consideration and approval.

    While presenting the budget on Wednesday at the state House if Assembly, the governor said the budget, tagged, “Budget of Economic Stabilization ” is 35 per cent higher compared to the 2024 budget.

    According to him, out of the budget, capital expenditure gulped N349,29 billion, representing 50.59 percent while N325.57billion is alloted to recurrent expenditure, representing 49.41 per cent of the budget.

    The governor explained that Infrastructure sector got the lion share of the budget with a sum of N152,265, 859 representing, 22.46 per cent followed by education with a sum of N 145, 257,783, 399 representing 21. 44 percent of the budget.

    Also, education received N145 billion, which represents 21 percent of the total budget. Health got N59 billion, which represents 9 percent while agriculture got N18 billion, representing 3 percent of the budget.

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    Governor Makinde, who assured that his administration will continue to accord priority to the welfare of the citizens of the state, appealed to members of the legislature to grant speedy passage of the budget.

    He said: ”As stated before, the infrastructure deficit in this sector and our inability to meet up with our plans in the last year has necessitated an increase in the allocation. We hope to renovate a number of schools in the coming year.”

    “Health and Agriculture at fifty-nine billion, four hundred and eleven million, three hundred and eighty-five thousand, seven hundred- and fourteen-naira, sixty-eight kobo (N59,411,385,714.68) and eighteen billion, seven hundred and sixty million, two hundred and forty-three thousand, three hundred- and forty-eight-naira, forty-five kobo (N18,760,243,348.45) are about 9% and 3% of the budget respectively.”

    “We strongly believe that this budget will live up its name as the economic stabilisation that will support our Oyo State Roadmap for Sustainable Development 2023-2027.”

    “Our plan is to bring more smiles into the faces of investors, small holder farmers, micro and small entrepreneurs, our teachers and other public servants, our parents, our children, our youths, and all residents of Oyo State. We want to hear more well-dones from people like Oluwaseun Adeomi, even as we continue to do the best we can for our people, Makinde posited.

    In his remarks, Speaker of the assembly, Adebo Ogundoyin, said the budget presentation was a crucial step in the budgetary process, adding that it allowed each governor to outline priorities, justify spendings, and showcase his administration’s financial strategies.

    “Governor Seyi Makinde has successfully outlined the details of the 2025 budget proposal, and we are happy that once again we have a comprehensive financial plan for the coming year,” the speaker said.

    He described the progress made by the governor’s administration in rebuilding as undeniable, noting that the successful implementation of the Roadmap for Sustainable Development 2023-2027 is a testament to Governor Makinde’s commitment.

    “The Governor’s effort has continued to earn him applause, and it is only fitting to pray to God for divine guidance, wisdom and strength for him to lead us to prosperity.”

    “The 2024 budget proposal achieved an impressive 64% success rate, thanks to the collaborative efforts of Government branches and stakeholders. Building on this momentum, we are hopeful that the 2025 budget proposal will surpass this performance.”

    “A total of Six hundred seventy-eight billion, eighty-six million, seven hundred sixty-seven thousand, three hundred thirty-two naira, eighteen kobo (#678,086,767,332.18) presented by our governor today for 2025 will build on the successes of the 2024 budget by helping to drive socio-economic growth, foster economic recovery, and improve the overall quality of life for Oyo State residents.”

    “The 2025 budget proposal presents a promising outlook for Oyo State’s development with infrastructure (22.46%) and education (21.4%) receiving the highest sectoral allocations.”

    “This is to stimulate economic growth, enhance competitiveness and increase productivity while also increasing the standard of education.”

    ‘The allocation also indicates a balanced approach, considering essential sectors like Health (8.76%), Agriculture (2.77%) and others (44.58%). Overall, the 2025 budget proposal sets a solid foundation for Oyo State’s progress and prosperity.”

    “As Legislature, we are committed to working closely with Governor Seyi Makinde for the successful implementation of the 2025 budget.

    “We pledge to conduct thorough oversight of all government arms in order to guarantee transparency, accountability and responsible allocation of resources. Let me assure that, we will set the ball rolling immediately to ensure swift passage of the 2025 Appropriation bill.”

    ”This, as usual, will translate to prompt implementation and execution of policies, as well as timely completion of all projects in the coming year,” Ogundoyin promised.

     

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