Monday Okpebholo, governor of Edo State on Tuesday presented the year 2025 Appropriation Bill of N605,776,065,857.34 billion to the State House of Assembly.
Okpebholo who tagged the budget, “Budget of Renewed Hope for a Rising Edo”, said the budget was designed to achieve the goals of his five-point agenda.
The budget, which is 25% higher than the 2024 fiscal estimates, earmarked N223 billion, representing 37%, to recurrent expenditure while a sum of N381billion, representing 63% was voted for capital expenditure.
Giving the sectoral breakdown of the budget, Okpebholo said that N162 billion was for road development across the State; N48 billion for education; N63.9 billion for health; N1.8 billion for Health Insurance Scheme and M4.5 billion for the agricultural sub-sector..
Speaking shortly after receiving the fiscal proposal from Governor Okpebholo, Blessing Agbebaku, Speaker of Edo Assembly, assured the governor that the House would work with him in the desire to take the State to lofty height.
Meanwhile, Ondo State governor, Lucky Aiyedatiwa, has presented a budget proposal of N655.230 billion for the 2025 fiscal year to the Edo State House of Assembly.
The budget, christened the “Budget of Recovery,” was presented to lawmakers during plenary, presided over by Olamide Oladiji, the Speaker, at the Assembly Complex in Akure on Tuesday, is higher than the 2024 budget, which stood at N395.257 billion.
According to Aiyedatiwa, the 2025 budget as a “Budget of Recovery,” aimed at addressing socio-economic challenges and ensuring prosperity for the people, saying the proposed budget would focus on enhanced infrastructure, agricultural development, and socio-economic welfare.
The sum of N248.923 billion, representing 37.99% of the total budget, is allocated for recurrent expenditure, while N406.307 billion, representing 62.01% of the budget, was earmarked for capital expenditure.
A breakdown of the budget shows that infrastructural development has the largest allocation with N238.572 billion, representing 36.40%, followed by public finance with N125.456 billion (19%), education with N77.024 billion (11.80%), and agricultural development with N56.102 billion (8.60%).
Additionally, the administration of justice was allocated N132.163 billion (2.80%), trade and industry N8.839 billion (1.30%), health N46.016 billion (7.0%), and environment and sewage management N13.084 billion (2.00%)
Equally, general administration receives N34.398 billion (5.20%), information N3.230 billion (0.50%), legislative administration N7.636 billion (1.20%), regional development N8.869 billion, and energy N3.742 billion (0.60%).
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