Ekiti Governor, Biodun Oyebanji has presented a budget estimate of N375,790,077,618.15 for 2025, focusing on food security, employment generation and wealth creation.
In the Appropriation bill submitted to the Ekiti State House of Assembly, Oyebanji explained that road, water and sanitation projects would be given priority.
Of the budget proposal, 51 per cent representing N192,326,570,488.61 is for recurrent expenditure, while N183,463,507,129.54, representing 49 per cent is capital expenditure. This contrasted with the 2024 Budget in which N88,952,583,682.410 of the total estimate of N150,575,481,915.00 was recurrent, and N70,619,898,233.20 was for capital.
Governor Oyebanji noted the 2025 budget estimate was to consolidate the gains of the 2024 Budget by improving the agriculture sector to enhance food security, provide grants to business owners and boost micro, small and medium enterprises, assuring that the 2025 Budget would accommodate the proposed new minimum wage, and also complete the ongoing infrastructure projects in different parts of the state.
“The proposed 2025 Budget will focus on food security, wealth creation and welfare of our people. It is important to reiterate that our Shared Prosperity agenda is hinged on six strategic pillars across all the sub-sectors of the economy.
“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.
“While we are making a concerted effort to bridge the infrastructure deficit, we are also poised to create an enabling environment for investors in the State to increase our Gross Domestic Product (GDP).
“Therefore, I wish to reiterate that basic and essential public infrastructure would be provided for sustainable economic growth. Accordingly, we shall focus on completing ongoing infrastructural projects across the State in the coming year.”
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