.As Kaduna Assembly passes N207bn supplementary budget
CHIGOZIE AMADI
Governor Seyi Makinde of Oyo State has presented the 2025 of ₦678.086 billion Budget of Economic Stabilization to the State House of Assembly.
The presentation highlighted a budget of N678.086 bn aimed at building on the economic recovery achieved in 2024 and stabilising the state’s economy amidst national challenges.
Similarly, the Osun State Governor, Ademola Adeleke on Wednesday presented a budget of N390bn for the 2025 fiscal year to the state House of Assembly for approval.
The budget tagged “Budget of Reconstruction and Recovery”, marks the 34th of its kind since the State was carved out of the Old Oyo State on 27th August, 1999.
This brings total amount budgeted by the two states to N1.068trn for the next financial year.
Meanwhile, while 51 percent of the Oyo state budget was appropriated for capital expenditure, recurrent expenditure takes 49 percent.
Governor Makinde, in his address highlighted positive projections for Nigeria’s economy, with inflation expected to decrease by between 7 and 12 percentage points in 2025, according to the International Monetary Fund (IMF) and the African Development Bank (AfDB).
He stressed the importance of strategic action by all levels of government to turn these predictions into reality.
“This year, we are presenting a budget that consolidates the gains we made through the 2024 Budget of Economic Recovery and seeks to deliver even more tangible benefits to our people,” Makinde said, adding that the goal of the 2025 budget is to stabilise the state’s economy and provide sustainable development.
Before presenting the 2025 budget, Governor Makinde reviewed the accomplishments of the 2024 Budget tagged “Budget of Economic Recovery” stating that the state made significant progress in key sectors such as infrastructure, agriculture, education, healthcare, and security.
He explained that Oyo State completed a total of 118.07 kilometers of roads, including the Iseyin-Fapote-Ogbomoso Road, renamed the Adebayo Alao-Akala Memorial Highway stressing that the road has enhanced socio-economic activities in the Oke-Ogun and Ogbomoso zones.
Additionally, he said 43.46 kilometers of feeder roads were completed in Ibadan, with ongoing work on 59.52 kilometers adding that the state also continued its transportation subsidy, benefiting about 30,000 residents.
On agriculture, he said over N1bn in low-interest loans was disbursed to over 10,000 small holder farmers, while thousands more received farm inputs and training through various government programmes.
The state also began taxing trucks that transport agricultural produce out of Oyo State, a move designed to retain more value from its agricultural sector.
In education, Makinde highlighted the ongoing renovation of 105 primary schools under the World Bank-assisted BESDA programme, with a further 100 secondary schools set for repairs. The state also recruited 14,500 teachers, marking a historic hiring spree in the education sector.
These efforts, he said are complemented by an N80,000 minimum wage proposal for civil servants, which will affect teachers and other public workers.
In healthcare, the state completed the upgrade of 209 primary healthcare centres and is now working to equip these facilities while recruiting additional healthcare workers to fill critical vacancies.
2025 Budget breakdown:
The 2025 Budget of Economic Stabilisation proposes a total expenditure of N678.08 bn, with N343.03 bn (50.59%) allocated to capital expenditure and N335.06 bn (49.41%) for recurrent expenditure.
The budget represents a 35% increase from the 2024 Budget of Economic Recovery, reflecting the state’s commitment to tackling economic challenges while focusing on sustainable growth.
Key allocations in the 2025 budget include:
Infrastructure: N152.27 billion (22.46% of the total budget), the largest share, reflecting the administration’s continued focus on improving the state’s infrastructure.
Education: N145.35 billion (21.44%), with significant investment in the renovation and upgrade of schools.
Healthcare: N59.41 billion (9%), which will support ongoing healthcare reforms and the recruitment of additional medical staff.
Agriculture: N18.76 billion (3%), to continue supporting farmers and boosting the agricultural sector.
Makinde expressed confidence that the budget would achieve more than 70% implementation, citing a 65% success rate in implementing the 2024 budget.
He emphasized that the 2025 Budget of Economic Stabilisation is designed to continue Oyo State’s journey towards sustainable development, focusing on improving the lives of residents through investments in infrastructure, education, healthcare, and security.
His speech was met with commendations and support from the state assembly members who applauded the state’s commitment to addressing the challenges of inflation, poverty, and infrastructural deficits while prioritising the welfare of the people.
The Speaker, Rt. Honorable Adebo Ogundoyin, in his address after the House received the budget, commended the governor for delivering good governance to the people of Oyo State.
While reeling out the achievements of the state legislature within the current legislative year in terms of the amount of bills and motions passed, Ogundoyin assured that the House will continue to be a partner in progress and also provide the needed support for the executive arm of government to deliver on its economic expansion agenda.
Meanwhile, the Osun State Governor, Ademola Adeleke on Wednesday presented a budget of N390bn for the 2025 fiscal year to the state House of Assembly for approval.
The budget tagged “Budget of Reconstruction and Recovery”, marks the 34th of its kind since the State was carved out of the Old Oyo State on 27th August, 1999.
The Governor in his speech made available to newsmen by his spokesperson, Mallam Olawale Rasheed, said the budget was borne out of the need to reconstruct the damaged economy and infrastructural facilities in the State and set a fiscal stimulus against the impact of global economic recession.
He added that the 2025 proposed estimates are in line with the existing Osun State Development Plan, 2023-2050, adding that the state is focused on meeting the yearnings of its good people, completing all ongoing projects, and embarking on new ones where critically necessary.
According to the Governor, the expenditure comprises Capital Expenditure of One Hundred and Forty-Four Billion, Two Hundred and Thirty-One Million, One Hundred and Eighty-Three Thousand, Eight Hundred Naira (N144, 231,183, 800), and a “Recurrent Expenditure of Two Hundred and Forty-Five Billion, Seven Hundred and Ninety-Seven Million, Ninety-Three Thousand, Nine Hundred and Forty Naira only (₦245,797,093,940.00).
“Recurrent Expenditure is divided into personnel cost, which is made up of salaries and allowances, as well as pensions and gratuities and stands at One Hundred and Two Billion, Eight Hundred and Ninety-Five Million, Eight Hundred and Twenty-One Thousand, Ten Naira Only( ₦102, 895, 821,010.00).
The balance of One Hundred and Forty-Two Billion, Nine Hundred and One Million, Two Hundred and Seventy-Two Thousand, Nine Hundred and Thirty Naira Only(₦142,901,272,930.00) is set aside.”
Meanwhile the Kaduna State House of Assembly, on Wednesday, approved N207.2 billion supplementary budget for the 2024 fiscal year.
The legislation followed the adoption of a report by Yunusa Shehu, Chairman, the House Committee on Appropriation and Implementation.
Shehu said the estimate included N40.9 billion in recurrent expenditure and N166.3 billion in capital expenditure.
He said the legislators approved the third supplementary budget for 2024, to enable the government to continue executing viable projects in the state.
The chairman said it would also facilitate payment of the new National Minimum Wage to workers by the end of November.
Earlier, a bill to establish the College of Agricultural Technology, Samaru Kataf and another bill seeking provision for women’s representation in public and private offices passed second reading, respectively.
The Speaker, Yusuf Dahiru referred the bills to the appropriate committees and directed them to submit their reports to the house on Nov. 19.
