Ekiti State Governor, Biodun Oyebanji, presented a 2025 budget proposal totaling N375.8 billion to the State House of Assembly in Ado-Ekiti, with a strategic focus on enhancing food security, creating jobs, and promoting wealth generation.
Oyebanji highlighted that the budget aligns with global standards to advance his administration’s Shared Prosperity agenda, underscoring his commitment to sustainable development for Ekiti State.
The budget aims to stimulate growth across sectors to benefit citizens in the coming year.
The Governor received a special applause from the state legislators led by the Speaker, Rt. Hon. Adeoye Aribasoye, for executing the outgoing 2024 Budget without borrowing either internally or externally and recording a commendable budget performance for the year.
According to the 2025 budget estimate laid before the state parliament, N192,326,570,488.61 representing 51 percent of the total amount budgeted was set aside for recurrent expenditure, while N183,463,507,129.54 representing 49 percent of the estimate was earmarked as capital expenditure.
This was in contrast to the size of the Budget for the 2024 fiscal year of N150,575,481,915.00 out of which N88,952,583,682.410 was recurrent expenditure and N70,619,898,233.20 was capital expenditure.
Governor Oyebanji noted that Recurrent Expenditure includes Personnel Costs, Overhead Costs, Social Contributions and Benefits, Debt Service, and Grants while Capital Expenditure relates to the cost of infrastructure and other developmental projects.