Ekiti State Governor, Biodun Oyebanji, on Monday approved the state’s N375.79 billion budget for the 2025 fiscal year, emphasizing its focus on economic growth and infrastructural development.
The budget, approved by the State House of Assembly, allocates 51% to recurrent expenditure and 49% to capital expenditure.
Oyebanji described the budget as “a product of extensive consultations with the people of Ekiti State” and aligned with the principles of “transparency, accountability, and inclusivity.”
The governor outlined key priorities for the budget, including agriculture, food security, wealth creation, and infrastructure.
He stated, “This budget will enable us to consolidate on our achievements, complete ongoing projects, and provide the infrastructure needed for the economic transformation of our towns and communities.”
Oyebanji attributed the state’s improved revenue to federal economic reforms, praising President Bola Tinubu’s administration.
“The reforms have significantly boosted revenue allocations to the state, and we expect this upward trend to continue into 2025 and beyond,” he said.
The governor also commended the Ekiti State Internal Revenue Service for enhancing revenue generation without imposing additional burdens on residents.
“We have approved the construction of the Ekiti Revenue House to strengthen EKIRS and ensure the state can eventually cover its overhead costs from Internally Generated Revenue,” he added.
Highlighting the government’s commitment to meeting revenue targets, Oyebanji expressed optimism about the support of development partners. “We will continue to engage our partners to support specific projects that align with our development goals,” he noted.
The welfare of workers and pensioners also featured prominently in the governor’s remarks. “We have remained consistent with monthly pension payments and reduced the gratuity backlog by N5.6 billion, clearing four years of arrears,” Oyebanji said.
He commended the State Assembly for its collaborative efforts, saying, “The 6th Assembly has been a reliable partner in progress, working with the Executive to move Ekiti forward. I urge you to maintain this spirit of cooperation and prioritize the Ekiti project above partisan politics.”
