Ekiti Earmarks N131.9bn To Boost Economy

The Ekiti State government has allocated N131,968,606,164. 48 of the 2025 budget’s capital expenditures will boost the state’s economic sector.

It also disclosed that N2.5 billion would be expended on state international cargo airport construction in the fiscal year.

The Commissioner for Budget and Economic Planning, Hon. Femi Ajayi, stated this yesterday in Ado Ekiti during the breakdown presentation and highlights 2025.

Governor  Biodun Oyebanji presented a budget of N375,790,077,618.15) for the 2025 fiscal year to the state House of Assembly for legislative consideration in October last year.

The sum of N192, 326, 570, 488. 61 was earmarked for recurrent expenditure, representing 51 per cent of the total budget, while N183,463,507,129.54, representing 49 per cent of the total budget size, was allocated for the capital expenditure.

Ajayi noted that the amount dedicated to the economic sector represents 71% of the capital expenditure.

He said, “The overall objective is to further enhance the actualisation of the administration ‘s policy of shared prosperity through the government’s 6—6-Pillar Agenda, which is also in consonance with the state’s 30-year development plan.”

The Commissioner noted that the state recorded 92 per cent and 88 per cent of the revenue and expenditures of the 2024 budget, respectively.

He added that N93, 422, 570.83, representing 51 per cent of the budget’s capital expenditures, would go into infrastructure and industrial development, one of the government’s six pillars.

Ajayi said that the government is committed to fiscal accountability and transparency and is poised to engender sustainable growth in the state economy and further improve the people’s well-being.