Business/Economy
Ondo assembly amends 2025 budget, slashes N698.8 Billion to N489.9 Billion
Written By: Emmanuel Ikhenebome
13 Nov 2025 02:09 PM
Akure, Ondo – The Ondo State House of Assembly on Thursday approved a significant revision to the 2025 budget, reducing the original N698.8 billion appropriation law to N489.998 billion.
The amendment, reported by Peoples Gazette, follows the budget’s initial passage on December 24, 2024, which had increased the governor’s initial N655.2 billion proposal by N43.4 billion.
According to Oluwole Ogunmolasuyi, Chairman of the House Committee on Finance and Appropriation, the revision was necessitated by the absence of expected state interventions and unworkable funds in the original plan.
The revised budget allocates N240.733 billion to recurrent expenditure and N249.265 billion to capital expenditure, aiming to reflect a more realistic revenue profile.
House Leader Olatunji Oshati clarified that this is a revised budget, not a supplementary one, dispelling rumors.
The bill was unanimously ratified by the Assembly under Speaker Olamide Oladiji.
This adjustment comes as Governor Lucky Aiyedatiwa’s “Budget of Recovery” continues to face scrutiny, with stakeholders awaiting its impact on the state’s development priorities.
The amendment, reported by Peoples Gazette, follows the budget’s initial passage on December 24, 2024, which had increased the governor’s initial N655.2 billion proposal by N43.4 billion.
According to Oluwole Ogunmolasuyi, Chairman of the House Committee on Finance and Appropriation, the revision was necessitated by the absence of expected state interventions and unworkable funds in the original plan.
The revised budget allocates N240.733 billion to recurrent expenditure and N249.265 billion to capital expenditure, aiming to reflect a more realistic revenue profile.
House Leader Olatunji Oshati clarified that this is a revised budget, not a supplementary one, dispelling rumors.
The bill was unanimously ratified by the Assembly under Speaker Olamide Oladiji.
This adjustment comes as Governor Lucky Aiyedatiwa’s “Budget of Recovery” continues to face scrutiny, with stakeholders awaiting its impact on the state’s development priorities.
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