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Gov. Abiodun presents N1,054trn 2025 budget to state assembly
Governor Dapo Abiodun of Ogun State has presented a total of N1,054trn (N1,054,542,020,147.47) to the State House of Assembly as the State proposed Budget for 2025.
Speaking at the Assembly’s Complex, Oke-Mosan, Abeokuta, Governor Abiodun who described the Budget tagged “Budget of Hope And Prosperity” sai N453.56 billion is for recurrent, while N600.98 billion is for Capital expenditures.
Stating the highlights of the Appropriation, the Governor said the sum of N120.1bn would go for Personnel Costs, N37.49bn for Consolidated Revenue Cost, Public Debt Charge would gulp N76.07bn, while N219.86bn would be spent on Overhead Cost.
On some of the Key physical capital projects that would be executed in 2025 Budget, Abiodun listed the renovation of General and State Hospitals and Purchase of Laboratory and Medical Equipment across the State, revitalization of 80 Primary Health Centers and procurement of Laboratory and Medical Equipment across all primary health facilities in the State as well as the Construction of roads across the state.
Other projects are the procurement and energizing of transformers, Construction of Fire Stations, upgrading of Rural roads across the State, Construction of Redline Metro Rail Extension, Agbado–Kajola, Blueline Metro Rail Extension at Okokomaiko-Agbara/Lusada and Purpleline Metro Rail line.
He said government would also embark on the construction of the Ogun Lodge Government House at Abuja, rehabilitate 150km feeder roads across the State, Construct the OGIRS Revenue House and a modern Court of Appeal in the State.
Explaining the funding of the 2025 Budget, Governor Abiodun said an estimated N120.97 bn would come from the State Internal Revenue Service, N193.85 bn from Ministries, Departments, and Agencies (MDAs), totaling N314.82bn, Statutory Allocations from the Federal Government, including Value Added Tax, are projected at N228.06 billion while Capital receipts comprising internal and external loans as well as grants and aids are estimated at N472.66 bn.
Giving a sectoral run down of the Budget, the State governor said Education would gulp N117.83bn or 17percent, Health N134.538bn or 13percent, Housing and Community Development N66.382 bn or 6percent, Agriculture and Industry N65.387bn 6percent, Infrastructure N284.456bn or 27percent, Recreation, Culture and Religion N25.27bn or 2percent, Social Protection N39.836bn or 4percent, General Public Service (Executive Organ), N46.863bn or 4percent, while the sum of N42.284 bn or 4percent would go for General Public Service (Financial and Fiscal Affairs).
Gov. Abiodun stressed, “we will continue to accord priority attention to the Completion of ongoing projects across the ISEYA Development pillars, Projects with revenue potentials; Projects that enhance employment generation; Projects consistent with priorities articulated in the State Economic Development Plan & Strategy 2021 – 2025.
“Projects that aligned with the seven thematic areas contained in the Medium-Term National Development Plan 2021-2025, namely: Economic Growth and Development; Infrastructure; Public Administration (Governance, Security, and International Relations); Human Capital Development; Social Development; Regional Development; Plan Implementation, Communication, Financing, Monitoring and Evaluation”, the Governor noted.
Giving a review of the 2024 Budget, Governor Abiodun said the State had achieved 79percent of it pro-rated revenue target and 56percent of pro-rated expenditure target as at September 30, 2024, emphasising that the performance over the past few years underscores the state fiscal reliability.
“Our internally generated revenue capacity remains commendable among sub-national entities. We will continue to leverage existing statutes to enhance revenue transparency, broaden the base, and strengthen the State’s finances without imposing additional burdens on residents, the Governor assured.
In his remarks, the Speaker of the House of Assembly, Rt. Hon. Oludaisi Elemide, called for granting of autonomy for the legislature, increase of running cost, provision of official vehicles for the Clerk and other officers as well as funds for execution of constituency projects.
He disclosed that the Assembly in the last one year, considered 14 Bills of which nine were passed, while 32 Motions were passed into Resolutions, adding that the Assembly also ensured that funds meant for projects were judiciously used by Ministries, Departments and Agencies of government through oversight functions.
While appreciating the Governor for embarking on the renovation of the Assembly Complex which had not been given a facelift for almost 45 years, the Speaker lauded the cordial relationship between the Executive and the Legislature, assuring that Assembly members would work towards the speedy passage of the Budget.
