Ondo Assembly Revises 2025 budget
By Oyeniwa Elizabeth
Ondo State House of Assembly has revised the 2025 budget from N698 billion to N489 billion after scaling through the third reading.
The House at a plenary session presided over by the Speaker, Rt Hon Olamide Oladiji revised the 2025 budget to a sum of ₦489,998,360,173.48 only, out of which the sum of ₦240,733,359,363.45 only, is for recurrent expenditure while the balance of ₦249,265,000,810.03 only, is for capital expenditure.
Ondo State Governor,Hon.Lucky Aiyedatiwa had submitted a revised budget of ₦531,767,261,000.00 to the State house of Assembly for consideration,out of which the sum of ₦254,448,081,000.00 only, is for recurrent expenditure while the balance of ₦277,319,130,000.00 only, is for capital expenditure.
The house further reduced the revised budget presented to it by over 42 billion naira after scrutiny.
Recalled that the house in December last year passed the sun of
₦698 billion year 2025 budget into law which was now reduced by over 209 billion naira.
The Leader of the house, Hon Olatunji Oshati had earlier moved a motion for the bill to be moved to the third reading and passed into law after majority voice votes which was seconded by the lawmaker representing AKure South Constituency 2, Hon Stephen Abitogun.
Earlier,The Chairman house committee on finance and appropriation,Oluwole Ogunmolasuyi presented report to the house and assured that it was property scrutinized with relevant stakeholders and concerned MDAs.
Lawmakers noted that the appropriation bill is a revised and restructured version of the ₦698.6 billion 2025 Budget of Recovery,which had earlier been duly passed by the Assembly and signed into law by the Governor.
According to the Lawmakers,the review became necessary because some anticipated funds from development partners have yet to materialize, and as the fiscal year is coming to an end need more realistic revenue profile to ensure a fairer allocation of state resources across Ministries, Departments, and Agencies (MDAs).
They emphasised that the bill is a downward adjustment, not an addition which the goal is to achieve fiscal discipline, transparency, and efficiency in the management of public funds.
In another development, the house held a ceremonial sitting for Late Hon Ilesanmi Oguntoyinbo, who represented Akoko South West II state consistency during the fourth Legislative Assembly (1999-2003).
Both past and present Lawmakers who spoke glowingly about the late Lawmakers described him as an erudite lawyer, and seasoned manager who played a crucial role in shaping democracy.
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