The Edo State Executive Council has approved a revised supplementary budget of N799.82 billion for the 2025 fiscal year, up from the initial N675.22 billion. The increase of about N125 billion represents an 18 percent rise.
The approval was granted during an emergency meeting of the Council, which was presided over by Governor Monday Okpebholo on Monday, September 29.
Speaking after the meeting, the Commissioner for Finance, Emmanuel Okoebor, explained that the revised budget reflects the government’s strong commitment to infrastructure development.
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He said, “Previously, we had a budget of N675 billion, with recurrent expenditures about 33 percent and capital expenditures 67 percent. The new revised budget now has about 70 percent for capital expenditures as against 30 percent for recurrent expenditures. It shows the commitment of Governor Monday Okpebholo to infrastructural development in Edo state.”
Okoebor further explained the size and nature of the increment. He said, “The increment in the budget is about N125 billion, which signifies about 18 percent of the previous budget. Recurrent has increased by about N12 billion, while capital is about N113 billion from the former budget. Given a 25 percent increment in Capital expenditure and just a five percent increment in recurrent expenditure.
“It shows that the government is concerned about infrastructural development, making Edo people happy. We have done about 254KM of road across the state, and many more construction works are ongoing.
“Recurrent expenditure has about a five percent increment as the increase in minimum wage necessitated that increment, including a lot of employment that the present administration did in the Hospital Management Board for over 1000, and it needs to be captured.
“The budget has been increased by N125 billion, which is about 18 percent, and a 25 percent capital expenditure, up from N450 billion to N563 billion.”
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He added that the slight rise in recurrent expenditures was necessary to account for the new minimum wage and the recent employment of over 1,000 staff in the state’s Hospital Management Board.
Highlighting progress on infrastructure, the Commissioner said the government has already completed about 254 kilometres of road projects across the state, with many more under construction.
Also speaking, the Commissioner for Information and Communication, Paul Ohombamu, said the revised supplementary budget would be forwarded to the Edo State House of Assembly for legislative consideration and passage.
With the revised 2025 budget, Edo State will channel more resources into infrastructure projects to improve the citizens’ living standards.
