PRESS RELEASE
OFFICE OF THE GOVERNOR
EDO STATE GOVERNMENT
GOV OKPEBHOLO PRESENTS N605BN 2025 BUDGET ESTIMATES
N223 EARMARKED FOR RECURRENT EXPENDITURES, N381 FOR CAPITAL PROJECTS
Edo State Governor, Senator Monday Okpebholo has presented a budget estimate of N605 billion for the 2025 fiscal year.
The Governor who presented the Appropriation Bill at the hallow chamber of the Edo State House of Assembly (EDHA) on Tuesday, said it is a 25 percent increase from the 2024 Budget.
The 2025 Budget is tagged: “Budget of Renewed Hope for a Rising Edo.”
The Governor said that 37% of this sum, amounting to N223 billion, will be dedicated to recurrent expenditure, while the remaining N381 billion, which represents 63%, will go into capital projects.
The Governor said the proposed Bill is a product of wide consultations and that it will ensure accountability and transparency in governance for responsive service delivery to the people of Edo state.
"With gratitude to God and a great sense of responsibility, I stand before the Honourable Members in this hallowed chamber to present the 2025 Appropriation Bill, which contains the revenue and expenditure proposals for the 2025 Fiscal Year.
"The proposed Appropriation Bill is a product of wide consultations. It will ensure accountability and transparency in governance for responsive service delivery to the people of Edo state.
"The 2025 Proposed Budget is designed to achieve the goals of my five-point agenda. Which are: Security,
Infrastructural, Development, Healthcare,
Food sufficiency and Education.
"We have also prepared this budget appropriation with the aim of achieving the Renewed Hope Agenda of the Federal Government. We have condensed the programmes into the State Development Plan, which will remain the basis for my administration in the year 2025.
"Mr. Speaker, the proposed budget size for 2025 fiscal year is N605 billion. This is a 25% increase from the 2024 Budget. 37% of this sum, amounting to N223 billion, will be dedicated to Recurrent expenditure while the remaining N381 billion, which represents 63%, will go into capital projects,” he said.
Governor Okpebholo said road Infrastructure
is the plan of his administration and to make a huge difference in the sector. "We have appropriated N162 billion for road development across the state.
"We are aware of the importance of connecting communities with motorable roads for rapid economic growth. Driving from one senatorial district to another, and from one community to another has become very difficult in the recent past.”
He said his administration wants to correct this and improve upon the roads that make Edo State the gateway to other parts of the country, adding that his government is going to enhance the status of Benin City, the state capital from being an ancient city to a modern one.
"It was in this regard that I flagged off the construction of the iconic Ramat Park Fly-over, which will be the first of such in the state.”
He said under education, his administration has kept the obligation to revisit the education sector and improve the deplorable condition of schools from primary, secondary to tertiary.
"We are all living witnesses to the regrettable condition of our tertiary schools in the past eight years. My administration shall be providing N500 million monthly subvention to the Ambrose Ali University, Ekpoma, to ensure its revival from the ashes over time.
"We shall ensure continuous improvement in the administration of other tertiary institutions. The sum of N48bn is provided in the 2025 budget to accomplish this promise.”
In the area of Security and Community Development, Senator Okpebholo said his administration is also powered by the drive to bring about peace and harmony in all parts of the State.
"We shall put our energies to ensure hostilities between communities are resolved. My administration has recently purchased 20 patrol vehicles to assist the security personnel in their work and we plan to purchase more in the coming year. The ban on the activities of the Edo State Vigilante has been lifted.
"On healthcare, N63.9 billion has been earmarked for 2025 fiscal year. We are currently reviewing the Health Sector Initiatives, to ensure that health is accessible and affordable. With the commitment to increase access to quality healthcare, N1.8 billion has been set aside for the Health Insurance.
"Agriculture plays a pivotal role in food production as well as revenue generation and job creation. It is, therefore, the desire of this administration to strengthen the agricultural sector, particularly in the areas of farm mechanization. We shall take special attention to the security of our farmers and ensure our farmlands are safe.
"Accordingly, the sum of N 4.5 billion has been proposed in the Year 2025 budget estimates for the agricultural sub-sector.”
Governor Okpebholo thanked the Speaker, Honourable members of the state House of Assembly and added that he has highlighted the major policy objectives of the 2025 budget, aimed at uplifting the socio-economic conditions of our people.
"Let me once again renew my deep appreciation to this Honourable house for the cooperation and support extended to this administration since inception.
"I want to sincerely appreciate President Bola Ahmed Tinubu, for his forthright leadership as well as the timely intervention in our state, in road construction, education, workers welfare and a whole lot more."
The speaker of EDHA, Rt. Hon. Blessing Agbebaku, thanked the Governor for the presentation and assured him that the house will work with relevant stakeholders to ensure speedy passage of the Bill.
"I urge all MDAs and Ministries to provide the necessary documents to ensure speedy passage of the budget. We will work with you your Excellency to make sure Edo people enjoy the dividends of democracy.”
Signed:
Fred Itua,
Chief Press Secretary to Edo State Governor.
December 10, 2024.
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