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The Ekiti state Governor Kayode Fayemi has presented the state House of Assembly with a budget of N100.8 billion for 2022.
At Thursday’s 28th Oct 2021 session in Ado-Ekiti, Kayode Fayemi presented the budget, titled “Budget of Legacy and Consolidation,” which was presided over by Speaker Funminiyi Afuye.
He stated that the budget was made up of N60.7 billion in recurring expenditure (about 60%) and N40.7 billion in capital expenditure (approximately 40%). The budget, according to Fayemi, is based on the country’s and the world’s economic realities.
He said the budget dedicated N2.2 billion to agricultural and rural development, N28.6 billion to infrastructure and industrial development, N19.4 billion to knowledge economy, N14.6 billion to social investment, and N36.7 billion to governance.
The primary objective of the 2022 budget is to complete and consolidate on all our legacy projects and lay a solid foundation for the incoming government.Advertisment
We will focus on projects that will fast track the economic growth of the state.
We intend to improve on our Internally Generated Revenue(IGR) by blocking loopholes and identifying new sources of revenue generation, thereby reducing our dependent on the monthly federal allocation,
Governor Fayemi said.
Kayode Fayemi, who reaffirmed his administration’s commitment to employees’ welfare, said the budget includes funding to reduce backlogs of unpaid payments. He also added that the budget would ensure that retired workers’ pensions and gratuities were paid on time.
According to the budget, more than 2,000,000 people are projected to be vaccinated against COVID-19 before the middle of 2022.
He praised parliamentarians for their normal collaboration and urged them to review the budget as soon as possible.
In his speech, Funminiyi Afuye pledged the House’s continuous support for the governor’s efforts to improve the state and that the House will work hard on the budget so that it could be passed by the end of 2021.
The Secretary to the State Government, Mr Abiodun Oyebanji, was among the dignitaries present at the submit, as were also the representatives of traditional rulers led by Oba Gabriel Adejuwon, the Onisan of Isan-Ekiti of Oye, market women, and other top government officials.