The Ondo State House of Assembly has passed the 2025 appropriation bill into law, approving a total budget of ₦698,659,496,000, reflecting a ₦43 billion increase from the initial proposal by Governor Lucky Aiyedatiwa.
Governor Aiyedatiwa had earlier presented a proposed budget of ₦655.23 billion, which was tagged the “Budget of Recovery.” The House approved the revised amount after adjustments were made to address economic realities such as the removal of fuel subsidies, fluctuating exchange rates, and the recent minimum wage increase.
Breakdown of the Budget
The final budget allocates ₦265,037,496,000 to recurrent expenditure and ₦433,622,000,000 to capital expenditure, reflecting the government’s emphasis on infrastructure development and economic growth.
During the plenary session, the Chairman of the House Committee on Finance and Appropriation, Mr. Oluwole Ogunmolasuyi, presented the committee’s findings, explaining the rationale for the adjustments. He noted that the amendments were necessary to align with shifting fiscal priorities and meet the pressing needs of the people.
“The state government should ensure that the adjusted schedules are conscientiously applied to address the people’s urgent needs,” Ogunmolasuyi advised. He further emphasized the importance of boosting internally generated revenue in collaboration with relevant state ministries and agencies.
Speaker of the Assembly, Mr. Olamude Oladiji, expressed confidence that the 2025 budget would foster economic growth and enable the execution of critical projects. He lauded Governor Aiyedatiwa’s leadership and stressed the importance of cooperation between the executive and legislative branches for the state’s progress.
Other Bills Passed
In addition to the budget, the Assembly passed two other bills into law:
- Amendment of the Ondo State University of Medical Sciences Law, 2015
- Prohibition of Forceful Entry, Illegal Occupation of Landed Property, and Fraudulent Land Transactions
Both bills were passed after third readings, signaling the Assembly’s commitment to improving governance and addressing social challenges in the state.
The 2025 budget is expected to drive Ondo State’s recovery agenda, delivering critical infrastructure, fostering economic development, and improving the welfare of its citizens.
