Ogun State Governor, Dapo Abiodun has presented the Year 2025 Appropriation Bill of N1,054,542,020,147.47 before members the State House of Assembly, consisting of N453.56Bn as recurrent expenditure and N600.98Bn as capital expenditure.
The 2025 budget christened, “Budget of Hope and Prosperity”, presented by the Governor at a plenary session presided by the Speaker, Rt. Hon. Oludaisi Elemide, was made up of N120.14Bn to cater for personnel costs, with consolidated revenue cost put at N37.49Bn; while N76.07Bn would cater for public debt charge, just as overhead cost was put at N219.86Bn, with N600.98Bn to cater for capital expenditure.
Giving the sectoral breakdown of the proposed budget, Governor Abiodun explained that the Education sector would get N177.835Bn representing 17%, while N134.538Bn amounting to 13% was allocated to health sector, while N66.382Bn being 6% was proposed for the Housing & Community Development, just as Agriculture/Industry would gulp N65.38Bn representing 6%, with infrastructure taking N284.4Bn being 27%, leaving N25.27Bn being 2% for recreation, culture and religion.
Other sectors including Social Protection secured N39.83Bn resulting to 4%, with General Public Service – Executive Organ allocated 4% being N46.86Bn, just as General Public Service – Financial & Fiscal Affairs were allotted 4% resulting into N42.28Bn, while 0.3% being N2.91Bn was to cater for General Public Service – General Personnel Service, with Public Order & Safety to get 3% being N26.44Bn. Also, Economic Affairs was allocated N5.97Bn being 0.6%, just as Judiciary was given 1% resulting into N10.54Bn , with the Legislature to take 2% being N21.18Bn, with the remaining N104.6Bn being 10% allocated to Statewide.
Giving an explanation of the Budget, Abiodun revealed that the 2025 Budget proposals would address the challenges facing the State and outline sustainable strategies to overcome them, adding that the expenditure policy for 2025 aligned with the State Economic Development Plan and Strategy (2021–2025), targeting fiscal sustainability, human development, food security, a favorable business environment, energy sufficiency, enhanced transport infrastructure, and industrialization with a focus on Small and Medium Enterprises (SMEs).
“as the Sixth Budget of this administration, the 2025 Appropriation Bill, titled: “Budget of Hope and Prosperity,” reflects current challenges, essential reforms, and the need for inclusive, diversified, and sustainable growth. It aims to stimulate economic growth, reduce inequality, and improve citizens’ well-being.
“The budget prioritizes infrastructure, healthcare, housing, security, education, youth empowerment, job creation, and agriculture, with policies designed to drive recovery and transformation during economic turbulence.
Giving an appraisal of the present year 2024 Budget, he revealed that the State had achieved 79% of its pro-rated revenue target and 56% of the pro-rated expenditure target, adding that the performance over the past few years underscored the State’s fiscal reliability, with an optimism of giving the State a stronger financial base.
In his opening remarks, the Speaker, Rt. Hon. Elemide, who appreciated Governor Abiodun for the renovation of the State Assembly Complex and other infrastructural projects which had contributed to the overall well-being and working conditions of the lawmakers and staffers, explained that the presentation of the yearly Appropriation Bill remained a constitutional requirement towards ensuring judicious allocation and utilization of public funds in the coming year.
