The Ekiti State Governor, Ayodele Fayose, on Monday presented a N98.6bn budget to the state House of Assembly for passage.
The 2018 appropriation bill tagged, ‘Budget of Accomplishment,’ was presented at the plenary session presided over by the Speaker, Kola Oluwawole.
The proposed budget is higher than 2017 budget of N93.09bn by 5.5 per cent.
“The recurrent to capital ratio is 67:33 as against 42:58 in the a 2017 fiscal year. This is in consonance with the Fiscal Responsibility Plan which is globally acceptable.The bill consists of N66.4bn recurrent and N32.1bn capital expenditure.
“We have chosen to be sincere and be realistic with our people instead of having a bogus budget that is unrealisable.”
Fayose, who dressed in agbada, which he jokingly called ‘presidential look,’ said the 2017 budgetary provision of N93.09bn had a performance of 60 per cent as of October.
He explained that the budget would be financed through federal allocation (33 per cent), internally generated revenue (11 per cent), Value Added Tax (11 per cent), Education Intervention Fund (four per cent) and sundry incomes (12 per cent).
The governor said the budget, when passed, would help the state to complete ongoing projects.
He added, “The state’s High Court will be inaugurated in March, the new Governor’s Office in April, the flyover will be completed in May while the Oja Oba Market and other landmark projects initiated by the government will be completed.”
Fayose said the 2017 presentation was more of a valedictory session for him because it would be the last before the expiration of his tenure on October 15, 2018.
He added that the budget accorded high priority to ‘stomach infrastructure,’ payment of salaries and improvement on the state’s IGR.
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“The resolve of this government is to ensure that all salaries are paid with the view to promoting workers’ welfare in the state on or before the expiration of this administration.
“Provision has equally been made for pensions and gratuities while a large chunk of the Consolidated Revenue Fund charges goes into debt management and servicing.”
The governor, however, presented his deputy, Prof. Kolapo Olusola, to the lawmakers and the monarchs present saying, “you must support him for the governorship in the spirit of continuity and sustainability of the government’s policies.”
“That is why I want to give Ekiti a man they can trust like me, a man that can be prudent in spending and sustain good taste, because my deputy (Prof. Kolapo Olusola) himself is a professor of Building Technology.
“Let me assure you, the Oja Oba will be inaugurated by July, which is just a few days before the election and the flyover will be delivered by May, all in 2018.
“We are going to block leakages and ensure that salaries are paid. Just like I have said, I am not going to leave Ekiti and still be indebted to workers, that I can assure Ekiti people,” he said.