Edo approves N799bn revised budget for 2025, raises capital spending

The Edo state executive council has approved a revised supplementary budget of N799.82 billion for the 2025 fiscal year, marking an 18 percent increase from the initial N675.22 billion.

The council gave the approval on Monday during an emergency meeting chaired by Monday Okpebholo, governor of Edo.

Emmanuel Okoebor, the commissioner for finance, who briefed journalists after the meeting, said the budget revision reflects the government’s intensified focus on infrastructure development.

Okoebor said the capital expenditure accounts for 70 percent of the budget, up from 67 percent, while recurrent has been reduced to 30 percent from 33 percent.

“The increment of about N125 billion is largely driven by a 25 percent increase in capital spending, rising from N450 billion to N563 billion,” the commissioner said.

“Recurrent expenditure has about a 5 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 capital expenditure by about 25 percent increment, from N450 billion to N563 billion.”

Okoebor highlighted ongoing projects, including 254 kilometres of road construction across the state, adding that the administration is committed to improving Edo’s infrastructure.

Paul Ohombamu, commissioner for information and communication, said the revised budget would be sent to the Edo state house of assembly for legislative approval.