Ondo: Gov Aiyedatiwa Presents N655 Billion Budget For 2025

By Ayodele Oni

Ondo state Governor, Lucky Aiyedatiwa on Tuesday presented a budget of N655.230 Billion for 2025 to the state House of Assembly.

Addresding the lawmakers, Aiyedatiwa pointed out that the administration has set a path to socio-economic recovery in the 2025 Budget of Recovery, with a bold resolve to break new grounds that will usher in prosperity for the people of Ondo State.

Christened Budget Of Resilience, substantial percentage of its funding is revenue from the federation account, has as its objectives among others, sustainable food security; sustenance of Human Capital Development drive of the current administration; Increased investment in infrastructure; Refocused drive on Independence Revenue (IR) generation.

“The above objectives are to be achieved by the deployment of the following strategies: Development of Agricultural value chain through easy access route and enhance rural security; Ensure provision of farm inputs and encouragement of mechanised farming; To have healthy, educated and productive citizens through strategic allocation and management of resources.

“Others are Aggressive road rehabilitation and maintenance;Grow IR by a minimum of 20% every year from 2025-2027; Prioritizing community-based utilities and transforming rural economy through massive construction of rural amenities; Combating Gender-Based Violence and give support to people with special needs;Strengthening the State’s security architecture;  Drive establishment of Port – Ondo.”

The governor announced that “in line with the long term objective to start allocating more funds for capital by year 2025, we were able to achieve that desired goal as 62% of the present budget is allocated to capital development.

“The 2025 estimate is prepared after a very deep analysis of world economic outlook as well as their implications for the national economy and ultimately of their State.

“Mr. Speaker, in arriving at our revenue Projections for the 2025 Fiscal year, we are cautious of the various challenges posed by the present economic realities that are staring us in the face, including fluctuations in global market trends, rising inflation and competing demands for limited resources, all of which necessitate prudent fiscal manage.

“Mr. Speaker, Honourable Members, our focus remains unchanged in our quest to have an economic template for the development of our dear State.  However, the emphasis will be on programme linkages.

“We no longer encourage stand-alone visions; we need an integrated approach.  Policies, programmes and projects from the various sectors will have to handshake with each other and build bridges towards the wholesome repositioning of the State’s economy.

“On the expenditure side, Mr. Speaker, we have taken note of the fact that the development rarely occurs in silos.

“We have, therefore, adopted an integrated approach such that each organ of government would complement others to stimulate the organic synergy required to catalyze our developmental resurgence.

“To this end, funds were allocated looking at sectoral requirements and needs with a view to minimizing overlaps and allocation inefficiencies.”