Governor Lucky Aiyedatiwa of Ondo has signed the 2025 appropriation bill, known as the “Budget of Recovery,” into law.  

Mr Aiyedatiwa had presented the N655.230 billion budget to the State House of Assembly lawmakers a fortnight ago.  

However, the lawmakers increased the budget to N698.659 billion.  

The 2025 budget allocates N433.622 billion (62.06%) to capital expenditure and N265.037 billion (37.94%) to recurrent expenditure.  

Speaking on Monday while signing the budget into law, Mr Aiyedatiwa noted that “capital development” took the lion’s share of the appropriation bill as part of a significant step toward fulfilling promises made to the people of the state regarding project execution.  

He explained that the 2025 fiscal plan is a bold and strategic step toward rebuilding the state’s economy and addressing critical socio-economic challenges.  

“We have deliberately allocated the higher percentage to capital development in order to jumpstart the economy and initiate massive infrastructural renewal across the State.  

“The main objective of this budget is to make life easy for our people. This objective is sacrosanct and non-negotiable,” Mr Aiyedatiwa said at the Exco Chamber, where he appended his signature to the budget.  

He highlighted his government’s priorities to improve the welfare of citizens, stating that the 2025 budget allocates significant resources to agriculture, infrastructure, education, healthcare, security, and social welfare.  

While explaining that the budget was shaped by stakeholders’ inputs during town hall meetings across the 18 LGAs of the state, the governor said the budget also reflects the collective aspirations of the state’s residents.  

“The budget reflects our collective vision for the future of Ondo State and demonstrates that when we work together, we can achieve great things for our people.  

“These allocations are not just numbers on a page; they are proposed investments in the lives and well-being of every resident of our State. It is through these resources that we will continue to create opportunities, improve livelihoods, and build a sustainable future for ourselves and generations to come,” he stated.  

The governor assured that the 2025 budget would be available on the state’s budget portal starting January 1, 2025, to ensure public accessibility.  

“I want to reassure the good people of Ondo State that our government remains focused on its goals of economic development, achieving sustainable food security, resilient community development, and the facilitation of social inclusion and security,” Mr Aiyedatiwa added.  

In his remarks, the Speaker of the Ondo State House of Assembly, Olamide Oladiji, thanked Mr Aiyedatiwa for his support and unwavering commitment to advancing all critical sectors of the state’s economy.  

Mr Oladiji said the budget, which focuses on holistic development, was evident in its upward revision from N655.230 billion to N698.659 billion, reflecting the administration’s determination to meet the state’s growing needs.