Governor Biodun Oyebanji of Ekiti State has presented the 2025 Appropriation Bill and budget estimate of N376 billion to the Ekiti State House of Assembly.
Oyebanji, while presenting the budget estimates of N375,790,077,618.15 to the lawmakers at the state assembly in Ado-Ekiti on Tuesday, said the budget tagged: “Budget of Sustainable Impact,” has capital expenditure of N183,463,507,129.54, representing 49 percent of the total budget while the re-current expenditure has N192,326,570,488.61, representing 59 percent of the budget.
He said the budget would focus on food security, wealth creation and welfare of the people.
Oyebanji pointed out that the objectives of the budget was to create sustainable prosperity and grow the economy by equipping the people with requisite skills, creating jobs for the youths and women and exposing them to Information Communication Technology, and expanding the range of opportunity available for everyone.
He said, “The proposed 2025 budget was prepared in line with global best practices and enabling policy frameworks.
“The 2025 budget has been carefully prepared to consolidate on ongoing capital projects and address the temporary economic hardship.”
Governor Oyebanji said the budget would be funded by the federal allocation, VAT, Independent Revenue, from MDAs, tertiary institutions, international donors agencies and other sundry income sources.
In his welcome address, the Speaker of the House, Rt. Hon. Aderiye Aribasoye, assured Ekiti people that the lawmakers would consider the quick passage of the budget diligently.
He noted that every naira allocated in the budget would serve the best needs of Ekiti people.
