Edo State Executive Council has approved a revised supplementary budget of N799.820 billion for the 2025 fiscal year, representing an increase of about N125 billion or 18 percent from the earlier figure of N675.220 billion.
Gatekeepers News reports that the approval was granted on Monday, September 29, after an emergency executive meeting presided over by Governor Monday Okpebholo in Benin City.
Speaking after the meeting, Emmanuel Okoebor, Commissioner for Finance, said the revised budget reflects the administration’s focus on infrastructure.
He said, “Previously we had a budget of N675 billion with recurrent expenditure having about 33 percent and capital 67 percent.”
“The new revised budget now has about 70 percent for capital expenditure as against 30 percent for recurrent expenditure. It shows the commitment of Governor Monday Okpebholo in infrastructural development in Edo State.”
Okoebor explained that the adjustment includes N113 billion added to capital expenditure and N12 billion to recurrent expenditure.
He said, “The increment in the budget is about N125 billion, which signifies about 18 percent of the previous budget. Recurrent increased with about N12 billion, while capital is about N113 billion. That gives about 25 percent increment in capital expenditure and just 5 percent increment in recurrent expenditure.”
He added that the government has already completed 254km of roads across the state, with more construction ongoing. On the recurrent side, he noted that the wage increase and the employment of over 1,000 staff into the hospital management board accounted for much of the rise.
The commissioner noted, “The budget has been increased by N125 billion, which is about 18 percent, and capital expenditure about 25 percent increment, from N450 billion to N563 billion.”
Also addressing journalists, Paul Ohombamu, Commissioner for Information and Communication, said the revised budget would be transmitted to the Edo State House of Assembly for legislative consideration and passage.
