Makinde presents N678bn 2025 Budget proposal to lawmakers
By Adewale Owoade
Oyo State Governor, Seyi Makinde, has presented the 2025 Appropriation Bill to the House of Assembly tagged: “Budget of Stabilisation”, with infrastructure development and education getting the lion’s share.
The governor, while presenting the budget estimate of N678,086,767,332.18 to lawmakers at the Oyo House of Assembly in Ibadan, said education would gulp N145,354,783,399.80, representing 21.44 per cent.
“We are proposing a budget of six hundred and seventy-eight billion, eighty-six million, seven hundred and sixty-seven thousand, three hundred and thirty-two-naira, eighteen kobo (N678,086,767,332.18).
“Of this, N343,028,948,216.20, which is 50.59 per cent is for capital expenditure while N335,057,819,115.98, which is 49.41 per cent is for recurrent expenditure.
“Having looked at the data, including current inflation trends and projections for the year 2025, our Budget of Economic Stabilisation is just about 35 per cent higher than our 2024 Budget of Economic Recovery.
“We strongly believe that this budget will live up to its name as the economic stabilisation that will support our Oyo State Roadmap for Sustainable Development 2023-2027.
“My prayer, Mr Speaker Sir and the Honourable Members of the House, is that you extend the same hand of fellowship and union that we have enjoyed over the years as you deliberate on the 2025 Appropriation Bill and grant its passage to the benefit of residents of our dear state.”
In his address, Speaker of the House of Assembly, Adebo Ogundoyin, commended Makinde for promoting collaborative efforts of stakeholders for the benefit of residents.
“The 2024 budget proposal achieved an impressive 64 per cent success rate, thanks to the collaborative efforts of government branches and stakeholders.
“Building on this momentum, we are hopeful that the 2025 budget proposal will surpass this performance.
“Let me assure that we will set the ball rolling immediately to ensure swift passage of the 2025 Appropriation Bill.” (www.nannews.ng)
