Ekiti State Governor Biodun Oyebanji yesterday presented a budget estimate of N375.7billion for the 2025 fiscal year to the House of Assembly.
The proposed budget tagged: “Budget of Sustainable Impact”, was presented at the chamber of the House of Assembly complex, Ado-Ekiti.
The budget, the highest in the history of the state, comprises N192.3billion recurrent expenditure, which represent 51 per cent of the total budget and N183.4billion capital expenditure, which is 49 per cent.
Governor Oyebanji said the Appropriation Bill, when passed, would help his administration to consolidate his efforts in infrastructure development and improve the state’s economy, in line with the Shared Prosperity Agenda.
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He said the 2025 budget would focus on ensuring food security, wealth creation and welfare of the people, to enhance productivity of the people and economy.
He said the government had made provision for implementation of the N70,000 new minimum wage for workers and pensioners, adding that negotiations between the government and the organised labour would soon be completed.
On how the budget would be financed, Oyebanji said: “As a government, we are optimistic that the independent revenue of the state will improve in 2025 with the efforts of Ekiti State Internal Revenue Service (IRS) and other revenue generating agencies.’’
Speaker Adeoye Aribasoye lauded the governor for his giant strides across major sectors of the state economy in the last two years.