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        Home»News»POLITICS»ECONOMY»Gov. Alia Presents N550.1bn As 2025 Budget Estimate To Benue Assembly
        ECONOMY

        Gov. Alia Presents N550.1bn As 2025 Budget Estimate To Benue Assembly

        National RecordBy National RecordDecember 11, 2024Updated:December 11, 2024No Comments4 Mins Read
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        Budget
        Gov. Hyacinth Alia laying the budget document before the Assembly
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        By Amos Aar, with Agency report

        GOVERNOR Hyacinth Alia on Wednesday presented the sum of N550.1bn as the 2025 appropriation bill to the Benue State House of Assembly for consideration and passage into law.

        The governor revealed that the budget comprises a recurrent expenditure of over ₦175 billion and a capital expenditure of over ₦374 billion.

        He said human capital development gets the largest share, exceeding 30% of the total budget, while agriculture sector received the second-highest allocation of over 15%, reflecting the administration’s commitment to enhancing livestock and agricultural production, reducing post-harvest losses, and expanding food storage systems across the state.

        The governor said that the total estimate represented a 47.5 per cent increment over the 2024 revised and approved figure of N373 billion.

        He stated that the appropriation bill, tagged: “Budget of Human Capital Development, Food Security, and Digital Economy”, is to consolidate the gains made in 2024.

        Alia further explained that the proposed recurrent expenditure of N175.4 billion was 13.55 per cent higher than the previous year.

        According to him, budgeted capital expenditure of N374.7 billion represents a 71.5 per cent increment on the 2024 revised capital expenditure.

        “The budget breakdown indicated that the sum of N212.2 billion, representing 38.52 per cent is for administration; N196.6 billion, representing 35.68 per cent is for the economy; law and justice will take N26.6 billion, representing 4.84 per cent while social welfare will gulp N115.5 billion, representing 20.96 per cent.

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        “We have the vision. We have the will. And most importantly, we have the people ready to work alongside us to turn this vision into reality.

        “Together, we will build a state where every citizen has the opportunity to succeed, where food is plentiful, and where the digital economy opens new frontiers of opportunity for all,” he said.

        The governor said the intention of the government was to stay within the limits of its recurring revenue to build the state without accruing unnecessary debts for generations unborn.

        “As we chart a course for the year ahead, we remain mindful of the challenges and opportunities before us. The year 2025 marks a critical juncture in our journey towards building a resilient, self-reliant, and forward-thinking state.

        “We are laying the foundation for a brighter future, ensuring no citizen is left behind. Our food systems will be robust and capable of feeding all, as we harness the power of technology to drive economic growth and development,” Governor Alia stated.

        He, however, said that since the 2025 budget was a deficit one, it proposed a borrowing plan of a conservative sum of N26bn, representing a modest 4.7 per cent of the proposed aggregate expenditure for 2025.

        “This is lower than the state’s debt-to-GDP ratio of 8.2 per cent which is within the benchmark of the 25 per cent debt sustainability threshold.

        “Despite these favourable debt ratios, I want to reiterate that borrowing will only be considered as a last resort and for regenerative investment purposes,” he added.

        Alia stated that the problem of Internally Displaced Persons (IDPs) remained a challenge, adding that they have reasonably improved their living conditions.

        He said the Bureau of International Cooperation and Development has elicited substantial grants from donors, totalling N85bn.

        The governor also pledged to enhance the state’s security architecture, allocating over 8% of the budget for this purpose. Additionally, he committed 20% of the budget to strengthening water hygiene, improving sanitation, and constructing drainage systems.

        Alia called on the speaker and members of the 10th House of Assembly to expedite the passage of the budget, enabling his administration to continue delivering the dividends of democracy to the people. He also extended warm wishes for Christmas and the New Year to the legislators and citizens of the state.

        In response, the speaker, Hon. Aôndona Dajoh, assured the governor of the Assembly’s readiness to ensure the swift passage of the 2025 budget. He urged Ministries, Departments, and Agencies (MDAs) to cooperate with the House Standing Committees during the budget screening process to ensure a realistic and people-centered budget.

        Hon. Dajoh praised Governor Alia’s leadership, highlighting achievements under the 2024 budget, including advancements in road infrastructure, the digitisation of state institutions through investments in information and communication technology, the industrial revolution spearheaded by the Benue Investment and Property Company, and effective management of state security.

        He expressed confidence that the 2025 budget would build on these successes and introduce new projects to advance the state’s development.

        The speaker, however, appealed to the governor to prioritise the completion of the renovation of the Assembly Complex, noting that the lawmakers currently lack a befitting chamber and adequate office accommodation.

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        2025 budget Benue Assembly Gov. Alia presents N550.1bn
        National Record

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