Ekiti State Governor, Biodun Oyebanji, has officially signed the state’s N375.79 billion budget for the 2025 fiscal year into law. The budget, which was passed by the Ekiti State House of Assembly and presented to the governor for assent, is structured with 51% allocated to recurrent expenditure and 49% earmarked for capital projects.
Governor Oyebanji, in a ceremony held in Ado Ekiti, emphasized that the 2025 budget is a product of extensive consultations with the people of Ekiti.
He stated that it was crafted with the aim of addressing the state’s expected economic realities for the year ahead. Additionally, he affirmed that the budget is aligned with principles of transparency, accountability, and inclusivity.
“Top priority has been given to agriculture and food security, wealth creation, and infrastructural development, this budget will allow us to consolidate our achievements as a government, complete ongoing projects, and enhance the infrastructure necessary for the growth of our towns and communities across the state.”
The governor also underscored that the successful implementation of the budget hinges largely on the availability of funds, acknowledging the importance of fiscal discipline and resource mobilization.
He lauded the economic reforms introduced by President Bola Tinubu’s administration, which, according to him, have significantly improved the revenue accruing to the state from the Federation Account. He expressed optimism that the enhanced revenue flow would continue throughout 2025 and beyond.
“I want to commend President Tinubu and his team for the economic reforms they have implemented. These reforms have allowed us to see a positive change in our revenue collection and management,” Oyebanji said.
He also highlighted the role of the Ekiti State Internal Revenue Service (EKIRS) in enhancing the state’s revenue generation, noting that their innovative strategies have made it possible to improve collection without imposing new financial burdens on the people.
To further strengthen EKIRS’ capacity, Governor Oyebanji revealed that his administration has approved the construction of a new revenue headquarters, the Ekiti Revenue House.
He outlined his vision for the state to eventually fund its overhead costs from internally generated revenue, thereby reducing dependence on the Federation Account for operational costs.
Looking ahead, Oyebanji reiterated his commitment to boosting the welfare of Ekiti’s civil servants and pensioners.
He emphasized that the state is up to date with its monthly pension payments and has made significant strides in clearing the backlog of gratuities. To date, N5.6 billion in outstanding gratuities have been paid, reducing the backlog by four years.
The governor expressed appreciation to the state’s House of Assembly for its collaborative approach, describing the legislature as a “worthy partner” in driving progress. He urged the lawmakers to continue prioritizing the development of Ekiti over partisan politics.
“I urge you to continue in this spirit and place the Ekiti project above any other interest,” he said.