Governor Biodun Oyebanji of Ekiti State has announced the official presentation of the N375.7 billion 2025 budget, signed into law on December 30, 2024. In a key statement, the government confirmed that no borrowing had been undertaken to fund any projects, sticking to its policy of zero borrowing in project financing. During the public breakdown and analysis of the 2025 budget at Jibowu Hall, Government House, Ado-Ekiti, Femi Ajayi, the Commissioner for Budget and Economic Planning, highlighted the administration’s commitment to sustainable growth and improved welfare for citizens. The budget, tagged “Budget of Sustainable Impact,” is aligned with the state’s six pillars of development. Ajayi further detailed the revenue projections for the 2025 fiscal year, noting that the budget would be largely funded by state revenue estimates, including 45% from federal allocations, 15% from Value Added Tax (VAT), 21% from grants by both domestic and international development partners, 8% from state-generated revenue, and 7% from loans aimed at financing specific capital projects. The goals of the 2025 budget include human capital development, expanding the state’s revenue base, enhancing agriculture and food security, completing key developmental projects, fostering employment, upgrading healthcare, advancing the digitalization of public service, promoting development partner collaborations, and increasing productivity. Ajayi emphasized the administration’s dedication to financial discipline and ensuring that every expenditure generates optimal value for the people. The budget was crafted to cater to the most critical sectors of the economy without overstretching the state’s financial capacity. In his conclusion, Ajayi reiterated that the administration of Governor Oyebanji had adhered strictly to its zero borrowing policy. While existing debts are being serviced, no new borrowing has been undertaken to fund state projects. He expressed confidence in the state’s economic growth and urged the people to continue supporting the government’s efforts to create a self-sufficient Ekiti State for future generations. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Discover how Nigeria’s Federal Ministry of Finance plans to strategically allocate resources through the 2025 budget, focusing on economic growth, infrastructure, and fiscal sustainability under Dr. Doris Uzoka-Anite’s leadership. The Federal Ministry of Finance has vowed to ensure prudent resource allocation and effective financial management to drive national growth and prosperity. Dr. Doris Uzoka-Anite, the Minister of State for Finance, made this commitment during her presentation of the 2025 budget to the House of Representatives in Abuja. In a statement issued by Mr. Mohammed Manga, the ministry’s Director of Information and Public Relations, Dr. Uzoka-Anite emphasized the ministry’s strategic focus on aligning the 2025 budget with national development priorities, including economic growth, infrastructure improvement, and sustainable fiscal policies. 2025 Budget: A Vision for National Growth Dr. Uzoka-Anite described the 2025 budget as a blueprint for advancing Nigeria’s economic goals, highlighting its alignment with the Renewed Hope Agenda championed by President Bola Ahmed Tinubu. The proposed budget targets: Representing the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Dr. Uzoka-Anite underscored the ministry’s role in shaping sound fiscal policies and advancing economic growth for the benefit of all Nigerians. Commitment to Operational Excellence Dr. Uzoka-Anite assured lawmakers that the ministry remains steadfast in its mission to build a stable and resilient economy. Accompanied by Mrs. Lydia Shehu Jafiya, the Permanent Secretary of the Federal Ministry of Finance, she reaffirmed the ministry’s dedication to achieving the government’s objectives. Mrs. Jafiya presented an overview of the 2024 budget performance, revealing that funds were largely allocated to overheads, personnel, and limited capital projects. She further outlined plans for the 2025 budget, which includes provisions to address critical needs and enhance the ministry’s operational efficiency. Infrastructure Upgrades and Efficiency Goals Mrs. Jafiya highlighted the importance of additional resources to upgrade the ministry’s headquarters, emphasizing that a conducive working environment is essential for improved service delivery and productivity. Lawmakers’ Response Honourable James Faleke, Chairman of the House Committee, assured that the committee would thoroughly review the 2025 budget proposal. He promised to provide feedback that aligns with national interests. Key Takeaways The Federal Ministry of Finance’s commitment to strategic resource allocation reflects its vision of fostering sustainable growth and enhancing the quality of life for millions of Nigerians. Through a well-structured and goal-oriented 2025 budget, the ministry aims to steer the nation toward greater economic stability and prosperity. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
