The Governor of Ekiti State, Dr. Kayode Fayemi, has presented the 2019 Appropriation bill of N129,924,472,135.01, to the State House of Assembly.
The N130 billion budget estimates tagged: “Budget of Restoration”,is expected to cover Agriculture and Rural Development of N8,439,413,179.89, representing 6 percent, Knowledge Economy of N33,393, 440,901.80, representing 26 percent, Social Investment of N15,741,236,373.89, representing 12 percent, Infrastructure/Investment Development of N40,122,788,579.83, representing 31 percent and Governance N32,227,593,099.70, which is 25 percent.
The total budget size of N129,924,472,135.01, is to cater for both recurrent and capital expenditures in 2019. According to Dr, Fayemi, the Capital Expenditure is N57,214,891,758.72 representing 44 percent level of allocation while the total recurrent expenditure is N72,709,580,376.29 representing 56 percent, noting that it was done in line with Fiscal Responsibility Plan.
The State Governor, Dr. Kayode Fayemi, said the Budget of Restoration has been carefully conceived and mapped out in line with the policy direction of the government to deliver on the 4-Point Agenda.
The budget is set out to achieve some broad based fundamental objectives such as establishing an effective and efficient strategy to revamp the state economy and to improve the state internally generated revenue and closely monitor same for the purpose of blocking all illicit leakages of accruals to government.
“The 2019 budget contains strategic fiscal information on various macroeconomic elements that will shape the economic outlook of Ekiti State in 2019 based on some macro-economic assumptions as they affect the ability of the government to generate revenue to finance its various projects and programmes”.
The budget is based on the “assumptions and predictions as contained in the Medium Term Expenditure Framework covering 2019-2021”.
Fayemi, further state that, In line with his administration’s policy statement and operational ideology as captured during his inauguration, “his vision for the state is to ensure that Ekiti State becomes a place where people can thrive and live their lives in dignity”.
In his speech, delivered by the Speaker, Hon. Adeniran Alagbada, said the House and its relevant committees will work round the clock on the appropriation bill and passed the budget into law within the shortest possible time.
He noted that the house has been duly carried along in the entire budget process with little or no misconception.
Alagbada pointed out that “those expecting Ekiti State House of Assembly to be a battle field or war zone should better look elsewhere because they will be disappointed”.
“Our Governor is a listening administrator who accords every arm of government deserved and dignity. He is not a meddlesome interloper like others. We are proud of you”.
The Speaker, however called on the Governor to help the assembly in 2019 to generally renovate the assembly complex, saying there is need for a desired facelift since 2011 when it was commissioned.“
The assembly needs 200 KVA generator to enhance the activities of the House and their conference microphones in the Main Chambers are obsolete, needing urgent solution”.