The Ondo State House of Assembly, on Tuesday, passed the N698,659,496,000 billion budget of the state for the 2025 fiscal year.
The News Agency of Nigeria (NAN) reports that the budget passed by the legislative is N43,429,496,000 billion above the N655.23 billion presented to it by Gov. Lucky Aiyedatiwa on Dec. 10.
A breakdown of the budget, christened the “Budget of Recovery,” indicates that N433,622,000,000 was allocated for capital expenditure, representing 62.06 per cent of the total budget while N 265,037, 496,000, was earmarked for recurrent expenditure, which is 47.94 per cent.
NAN reports that the estimates submitted by Gov. Aiyedatiwa on Dec. 10 had allocated N248,923 billion, representing 37.99 per cent to recurrent expenditure while N406, 307 billion, representing 62.01 per cent, was earmarked for capital expenditure.
After the submission of the report of the House Committee on Finance and Appropriation, its Chairman, Mr Oluwole Ogunmolasuyi, Owo 1/APC, said the budget increase was necessitated after interactions with Ministries, Departments and Agencies (MDAs) during the budget defence.
He urged the the state government to take all necessary steps to ensure that the Internally Generated Revenue target was realised.
“The state government should ensure that the schedules which accommodate necessary adjustments that are required to meet the urgent needs of the people are conscientiously applied to the needs stated therein,” he said.
