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Oyebanji presents first fiscal estimates of N113.5bn as Ekiti governor

Biodun Oyebanji, governor of Ekiti State on Thursday presented the first fiscal estimates of N113.5bn to the House of Assembly for the 2023, which he said was aimed at consolidating on the achievements of his predecessor, Kayode Fayemi.

The State Appropriation Bill christened “Budget of Strong Beginning”, has a total sum of N80.36bn as recurrent expenditure, representing 61.3 percent of the budget and the sum of N34.06bn as capital expenditure, representing 38.7 percent.

The figure is about N13 billion higher than the last budget of N100.7bn presented by Fayemi.

Read also: Makinde presents N310 bn budget to state assembly

Oyebanji said the 2023 proposed budget was designed to address the challenges posed to subnational, national and global economies and the ripple effects of the economic downturn.

He noted that the budget which was largely the product of citizen’s engagement programme he had with stakeholders from towns and villages across the three senatorial districts of the State was designed to ensure that the internally generated revenue of the State is increased to reduce the dependence of the state on federal allocation.

He added that the 2023 budget was anchored on his administration’s six pillars for Ekiti development which include Youth Development and Job Creation, Human Capital Development, Agricultural and Rural Development, Infrastructure and Industrialization, Arts, Culture and Tourism, and Governance.

The budget presentation which held at the chambers of the State House of Assembly Complex, Ado-Ekiti, was witnessed by the Deputy Governor, Monisade Afuye; members of the State Executive Council, traditional rulers, heads of tertiary institutions, leaders of the ruling All Progressives Congress (APC) and party faithful.

Oyebanji assured of increased allocation of resources to the critical areas of infrastructure such as water supply, electricity, housing, improved road network and provision of other infrastructural facilities across the 16 local government areas of the state.

He identified some of the projects to be executed to include Ado Ekiti township Roads, construction of Atlas-Ajebamidele-Deeper Life -Alasia – Shepherd- Omisanjana road. Ikere–Ilawe road, Itapa – Omu- Ijelu etc roads, completion of the phase II of New Iyin road and rehabilitation of Igede – Ilawe road, among others.

The governor stressed the need by all stakeholders to improve on the state Internally Generated Revenue (IGR), with the incorporation of the Nigeria National Petroleum Company (NNPC) Limited and attendant zero remittance to the Federation Account in recent times. This he said will cushion the effect and withstand possible revenue shock.

“Our goal is to safeguard our people’s lives, livelihoods, well-being and future. It is to create shared prosperity for all and to grow the economy, equip our people with valuable skills, create jobs, and expand the range of opportunities available for everyone,” he said