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Home Business Banking & Finance

Okpebholo Submits ₦605.1Bn 2025 Budget Proposal

Newscoven by Newscoven
December 10, 2024
in Banking & Finance
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Okpebholo Submits ₦605.1Bn 2025 Budget Proposal

Edo State governor, Monday Okpebholo

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Edo State governor, Monday Okpebholo, on Tuesday, presented a proposed ₦605.1 billion appropriation bill for 2025 to the state House of Assembly.

The comprehensive budget, dubbed “Budget of Renewed Hope for a Rising Edo,” reflected a 25 per cent increase from the 2024 Budget.

The budget, it was stated, was in alignment with the five-point agenda of Governor Okpebholo, focusing on the specifics.

Key allocation highlighted by the governor for the 2025 fiscal year presentation include recurrent expenditure (₦223 billion 37 per cent); capital projects (₦381 billion 63 per cent; road infrastructure (₦162 billion);

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Education (₦48 billion, including N500 million monthly subvention to Ambrose Ali University); healthcare: (₦63.9 billion), with ₦1.8 billion dedicated to health insurance, while food security takes ₦4.5 billion.

Speaker of the state House of Assembly, Rt. honourable Blessing Agbebaku, assured of collaboration with the Executive to strike a balance, emphasising the budget’s significance as a yearly tradition and a constitutional requirement.

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