Ekiti State Governor Biodun Oyebanji presented the state House of Assembly with a proposed budget estimate of N375,790,077,618.15 billion for 2025 for legislative consideration.
This is just as he disclosed that negotiations are ongoing on implementing the new minimum wage to workers and pensioners in the state. At the same time, provisions are made to accommodate the implementation of the new minimum wage in the proposed 2025 Budget.
The governor said the Recurrent Expenditure in the proposed 2025 Budget is N192, 326, 570, 488. 61, representing 51% of the total Budget, while the Capital Expenditure is N183,463,507,129.54, representing 49%.
He added that N183,463,507,129.54 had been proposed as Capital Expenditure for the 2025 fiscal year, representing 49% of the total Budget size.
Governor Oyebanji, in his budget speech, said the appropriation bill christened ‘Budget of Sustainable Impact’ reaffirmed his government’s commitment to upholding the tenets of good governance.
“With your support, I assure the good people of Ekiti State of our commitment to protecting lives and properties, providing necessary infrastructure, creating more job opportunities, and maintaining good relations with all and sundry.”
While stressing that the proposed 2025 Budget will focus on food security, wealth creation and the welfare of our people, he said, ” It is important to reiterate that our Shared Prosperity agenda is hinged on six strategic pillars, which cut across all the sub-sectors of the economy.
“The six pillars are Governance, Youth Development and Job Creation; Human Capital Development; Agriculture and Rural Development; Infrastructure and Industrialisation, Arts, Culture and Tourism. These pillars highlight our priorities as an administration. Our objective is to create sustainable prosperity and grow the economy by equipping our people with the requisite skills, creating jobs for our youths and women, exposing them to information communication technology and expanding the opportunities available for everyone.
“We are poised to sustain and create a more conducive environment for investors and make Ekiti State the preferred destination to live, work, and invest”.
The governor added, “The proposed 2025 Budget has been carefully prepared to consolidate on ongoing capital projects and address the temporary economic hardship occasioned by the petrol subsidy removal and unification of exchange rate by improving our agricultural sector through the provision of incentives, seedling, and farm machinery to enhance food security in the state.’
