…Gets lawmakers’ applause for zero borrowing in 2024
Ekiti State Governor, Mr. Biodun Oyebanji on Tuesday presented a budget estimate of N375,790,077,618.15 for the 2025 fiscal year with special focus on food security, employment generation and wealth creation.
Presenting the Appropriation Bill before members of the Ekiti State House of Assembly at the Assembly Complex, Ado- Ekiti, Oyebanji explained that the budget estimate was prepared in line with global best practices to drive the Shared Prosperity agenda of his administration.
The Governor received a special applause from the state legislators led by the Speaker, Rt. Hon. Adeoye Aribasoye, for executing the outgoing 2024 Budget without borrowing either internally or externally and recording a commendable budget performance for the year.
According to the 2025 budget estimate laid before the state parliament, N192,326,570,488.61 representing 51 per cent of the total amount budgeted was set aside for recurrent expenditure, while N183,463,507,129.54 representing 49 per cent of the estimate was earmarked as capital expenditure.
This was in contrast to the size of the Budget for the 2024 fiscal year of N150,575,481,915.00 out of which N88,952,583,682.410 was recurrent expenditure and N70,619,898,233.20 was capital expenditure.
Aside thanking Ekiti people for their “overwhelming support “ for his administration, Governor Oyebanji also thanked President Bola Ahmed Tinubu for what he described as the President’s “strong support “ for his administration
