Babatunji Wusu –
- Edo State Governor, Senator Monday Okpebholo, has presented a budget estimate of N605 billion for the 2025 fiscal year, reflecting a 25% increase from the 2024 budget.
- The budget allocates N223 billion (37%) for recurrent expenditure and N381 billion (63%) for capital projects.
- Key focus areas include infrastructure, education, security, healthcare, and agriculture.
On Tuesday, Edo State Governor, Senator Monday Okpebholo, presented a proposed budget of N605 billion for the 2025 fiscal year at the Edo State House of Assembly. Titled the “Budget of Renewed Hope for a Rising Edo,” the proposed budget represents a 25% increase from the previous year’s budget.
In his address, Governor Okpebholo highlighted the priorities of his administration, noting that 37% (N223 billion) of the total budget would be dedicated to recurrent expenditure, while the remaining 63% (N381 billion) would focus on capital projects.
Key Areas of Focus:
- Road Infrastructure:
- N162 billion is earmarked for road development, aiming to connect communities and drive economic growth. Notably, the construction of the Ramat Park flyover, the first of its kind in the state, will help transform Benin City into a modern city.
- Education:
- The Governor pledged to improve education across all levels, particularly in tertiary institutions. A monthly N500 million subvention has been allocated to Ambrose Ali University, Ekpoma, for its revival, alongside other tertiary institutions.
- Security:
- N20 patrol vehicles have been procured to assist security agencies, with plans for further acquisitions. The ban on the Edo State Vigilante has also been lifted to enhance community safety.
- Healthcare:
- A significant allocation of N63.9 billion is proposed to improve healthcare services, with N1.8 billion earmarked for Health Insurance to increase accessibility and affordability.
- Agriculture:
- The budget proposes N4.5 billion for agriculture, focusing on farm mechanization and ensuring the safety of farmlands, which is crucial for food production, job creation, and revenue generation.
Governor Okpebholo expressed gratitude to the Edo State House of Assembly for its support and cooperation, assuring that the budget represents not just a financial plan but a vision for a better Edo State. He also acknowledged the leadership of President Bola Ahmed Tinubu, noting his contributions to various sectors.
The Speaker of the Edo State House of Assembly, Rt. Hon. Blessing Agbebaku, assured the Governor of the Assembly’s commitment to ensuring the swift passage of the budget, emphasizing collaboration for the benefit of Edo citizens.
