Ekiti State Governor Kayode Fayemi, yesterday, presented N109.6 billion 2021 budget to the state House of Assembly. Fayemi, while presenting the budget tagged “Budget of Recovery and Economic Restoration,” said the proposed fiscal estimate was designed to mitigate the effects of COVID-19 pandemic on the welfare of the people with focus on social security and empowerment.
He said N57,997,989,982.62 was for recurrent expenditure, representing 53 per cent while N51,668,386,739.99 was for capital expenditure, representing 47 per cent of the entire budget.
The sectoral breakdown of the budget, tailored along the five pillars of Fayemi’s government, indicates social investment got N25,274,622,256 (23 per cent), governance – N29,322,242,503.22 (27 per cent), agriculture – N7,920,439,216.75 (seven per cent), infrastructure – N25,217,177,807.67 (23 per cent) and knowledge economy – N21,931,894,938.68 (20 per cent).
The governor said that the budget proposal was a product of wide consultation and meetings with members of the public through town hall meetings held across the three senatorial districts.
Fayemi, who noted that the proposed budget was prepared amid global economic challenges occasioned by the COVID-19 with a view to revamping the ailing economy to a buoyant state, said his government would continue to accord priority to participatory and all-inclusive governance in 2021, boost economic activities of the state and begin work on the cargo airport project.
The governor also said that efforts were in top gear to work with the Transition Company of Nigeria (TCN) to build 233KVA in the state this year.
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