Ondo Assembly Amends 2025 Budget, Reduces Appropriation Law to N489.998 Billion
The Ondo State House of Assembly on Thursday amended the state’s 2025 Appropriation Law, effectively reducing the overall budget size from the initial figure of N698.8 billion to N489.998 billion.
The decision to revise the budget came as a result of the presentation of the report by the House Committee on Finance and Appropriation. The Chairman of the Committee, Oluwole Ogunmolasuyi, explained during the plenary session that the amendment was crucial to improve the performance and implementation of the budget for the fiscal year. He cited the inability of the state to secure certain expected interventions, which had been factored into the initial N698.8 billion budget passed by the Assembly on December 24, 2024.
Ogunmolasuyi detailed the new breakdown of the appropriation, stating that N240,733,359,363.45 is now allocated for recurrent expenditure, while the balance of N249,265,000,810.03 is earmarked for capital expenditure. He added that the modification was also necessitated by the need to redistribute some funds within the budget that were not performing as projected.
Following the committee’s presentation, the House Leader, Olatunji Oshati, moved a motion for the passage of the revised fiscal bill, confirming that the bill represented a revision of the budget and not a supplementary request, as had been previously speculated. The motion was seconded and subsequently passed by a unanimous voice vote of the lawmakers, with the Speaker of the Assembly, Olamide Oladiji, ratifying the passage. The initial N698.8 billion budget, which was tagged the “Budget of Recovery,” had been an upward adjustment from the N655.2 billion proposal originally presented by Governor Lucky Aiyedatiwa.
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