Ekiti proposes N129.9bn 2019 budget

Governor Kayode Fayemi of Ekiti State

Ekiti State is planning to spend a total of N129,924,472,135.01 in 2019, the appropriation bill before the State House of Assembly for passage by the State Governor, State, Dr. Kayode Fayemi on Friday.

The budget composed of N57, 214, 891, 758.72 capital expenditure and N72, 709, 580, 376.29 as recurrent expenditure.

The budget tagged: Budget of Restoration’ was presented before the Speaker, Hon Adeniran Alagbada and other members of the Assembly for passage.

The Assembly complex witnessed a frenzied mood, as party leaders and loyalists of the governor thronged the palatial premises of the legislative building to give support.

In the proposal, infrastructure takes the largest share and will gulp a sum of N40, 122, 788, 579. 83 while a total of N33, 393, 440, 901.80 was earmarked for social investment drives.

Fayemi, who clad in white Agbada praised the assembly for the commitment to the State, saying the cardinal objective of the budget estimate is to drive the four cardinal objectives of his administration, anchored on; Knowledge economy, social investment, infrastructure and Human capital development and Agriculture and Rural Development.

He said the budget was judiciously tailored towards good governance and speedy economic recovery for Ekiti state and its people.

“Mr. Speaker, the budget encapsulates the plans, policies, and programmes of this administration. I equally want to assure you that the needed resources to ensure the success of its provisions shall be expertly sourced.

“I urge you for timely consideration to the passage of this revenue and expenditure estimate as 2019 is already here”, Fayemi stated.

Fayemi said for smooth sail and passage of the appropriation bill, that he sought the inputs of all relevant stakeholders and reflected the collective aspiration, needs and demands for sustainable growth and development across the 16 local government areas of the state.

Reviewing the 2010 budget performance, Fayemi said: “this year has been a year of uncertainty for Ekiti State and Ekiti Kete. However, the cheering news is that we are ending the year on a hopeful and promising note.

“With your continued support and commitment to 4-point agenda of this administration, we will together chart a new course for greater tomorrow we will all be proud of.

“We have assumed office, we have embarked on extensive work in examining the state’s finances, our domestic economy, the challenges we confront, and opportunities before us.

“We promise you to live up to the expectation of publishing details of the State finances during the first 100th day of this government”, he said.