TEXT OF THE SPEECH DELIVERED BY HIS EXCELLENCY, THE GOVERNOR OF EDO STATE, DURING THE 2025 BUDGET PRESENTATION TO THE EDO STATE HOUSE OF ASSEMBLY ON DECEMBER 10, 2024
Mr. Speaker, Honourable Members of the Edo State House of Assembly,
With gratitude to God and a great sense of responsibility, I stand before this hallowed chamber to present the 2025 Appropriation Bill, which contains the revenue and expenditure proposals for the fiscal year 2025.
The proposed Appropriation Bill is the product of wide consultations and reflects our commitment to accountability and transparency in governance. It is designed to provide responsive service delivery to the people of Edo State and achieve the goals of my administration’s five-point agenda, which are:
- Security and Community Development
- Infrastructure Development
- Healthcare
- Food Sufficiency and Agriculture
- Education
The 2025 Budget, tagged “Budget of Renewed Hope for a Rising Edo,” aims to reposition our state for growth and prosperity.
Highlights of the 2025 Budget
Budget Size: The proposed budget for the 2025 fiscal year is ₦605 billion, representing a 25% increase from the 2024 budget. Of this:
- ₦223 billion (37%) is allocated to recurrent expenditure.
- ₦381 billion (63%) is allocated to capital projects.
Sectoral Allocations and Initiatives
- Infrastructure Development
- ₦162 billion has been earmarked for road infrastructure. This investment is critical to connecting communities, facilitating trade, and driving economic growth.
- We are committed to improving and rehabilitating roads across the state to ensure Edo remains the gateway to other parts of the country.
- The construction of the iconic Ramat Park Flyover in Benin City is underway, marking the first project of its kind in the state.
- Healthcare
- A total of ₦63 billion has been allocated to healthcare.
- To enhance access to quality healthcare, ₦1 billion has been set aside for the State Health Insurance Scheme.
- Our administration is reviewing health sector initiatives to ensure effective service delivery.
- Agriculture
- Recognizing the pivotal role of agriculture in food production, revenue generation, and job creation, ₦45 billion has been allocated to the sector.
- We aim to strengthen farm mechanization and establish agro-industrial hubs across the state.
- Farmers’ security will be prioritized to ensure farmland safety.
- Education
- Our administration remains committed to revitalizing the education sector, addressing challenges across primary, secondary, and tertiary institutions.
- A monthly subvention of ₦500 million will be provided to Ambrose Alli University, Ekpoma, to restore its operations.
- Other tertiary institutions will also benefit from continuous administrative improvements.
- Security and Community Development
- Ensuring peace and harmony across the state is a top priority.
- We have recently purchased 20 patrol vehicles to assist security personnel and plan to procure more in the coming year.
- ₦48 billion has been allocated to address security challenges and foster community development.
Vision for 2025
The 2025 budget aligns with the Renewed Hope Agenda of the Federal Government, and we have integrated its programs into the Edo State Development Plan. This approach ensures that our goals for infrastructure, education, healthcare, and economic growth are synchronized with national priorities.
Appreciation and Call to Action
I would like to express my deep appreciation to this Honourable House for its unwavering cooperation and support since the inception of this administration. I also thank President Bola Ahmed Tinubu for his timely interventions in our state, especially in road construction, education, and workers’ welfare.
Mr. Speaker, Honourable Members, it is my honour to present the Edo State 2025 Appropriation Bill, totaling ₦605,076,406,857.34, for your consideration and approval. This budget encapsulates specific projects that align with our vision of a “New Edo Rising.”
Let us work together to achieve this vision and deliver on the promises made to our people.
Thank you for your kind attention.
Senator Monday Okpebholo
Executive Governor of Edo State
