Edo State Governor, Senator Monday Okpebholo, has presented a comprehensive budget proposal of N605 billion for the fiscal year 2025 to the State House of Assembly on Tuesday. Dubbed the “Budget of Renewed Hope for a Rising Edo,” this proposal marks a 25% increase compared to the previous year’s budget.
During the presentation in Benin City, Governor Okpebholo outlined the allocation of funds, with recurrent expenditure set at N223 billion, accounting for 37% of the total budget, while capital expenditure is earmarked at N381 billion, representing 63%. This strategic financial plan is designed to support the administration’s five-point agenda, which prioritizes Security, Infrastructural Development, Healthcare, Food Sufficiency, and Education.
The governor provided a detailed breakdown of the budget, highlighting key sector allocations: N162 billion is dedicated to road development across the state, N48 billion for educational initiatives, N63.9 billion for healthcare services, N1.8 billion for the Health Insurance Scheme, and N4.5 billion for the agricultural sector.
Emphasizing the collaborative nature of the budget’s formulation, Okpebholo noted that it was developed through extensive consultations with various stakeholders. He reiterated his commitment to ensuring transparency and accountability in governance, aiming to deliver responsive services to the citizens of Edo State.
In response to the budget proposal, the Speaker of the House, Rt. Hon. Blessing Agbebaku, assured the governor of the assembly’s commitment to expedite the review process. He emphasized the legislature’s dedication to collaborating with the governor to advance the welfare of the Edo people.
