Kayode Fayemi, the governor of Ekiti State, on Wednesday, December 23, 2020, signed the 2021 budget estimate of N109 billion into law with a pledge to ensure timely completion of ongoing projects and rejuvenate the state economy.
The appropriation bill was passed by the House of Assembly on Tuesday, December 22, 2020, having been presented by the Governor on October 27, for perusal and ratification.
Fayemi, who spoke at the signing of the budget christened: “Budget of Recovery and Economic Restoration” remarked that the 2021 Budget estimate is N109, 666, 376, 722.61, out of which 53% is appropriated for Recurrent Expenditure and 47% for Capital Expenditure.
He said the budget estimate was meant to usher the state into the second half of the administration with the objectives of completing ongoing projects and commencing new ones that are very critical to the economic development of the state.
He explained that the assent to the budget signified the readiness of government to effectively implement the budget and deliver on its promises to the people adding that the budget would also increase the state’s ability to respond to economic challenges and achieve fiscal sustainability.
The Governor assured the people that all the lined up projects and programmes would immediately begin to receive adequate attention for the benefit of the people.
He said: “The 2021 budget estimates is N109, 666,376,722.61, out of which 53 percent is appropriated for recurrent expenditure and 47 percent for capital expenditure. The breakdown of the 2021 budget of recovery and economic restoration would be presented to the public by the Hon. Commissioner of Budget and Economic Planning in the coming days.”
He expressed his appreciation to Ekiti people for their love, prayers, and support that had kept the government going against all odds. “We are moving on, still impacting lives and building legacies”.
Fayemi also thanked the Assembly for its painstakingness and thoroughness in dealing with the budgetary provision, saying the realisable amount would help in deepening the economy of the state and bring more development to the people.
“You would recall that I presented the 2021 Appropriation Bill to the House of Assembly on the 27th October, 2020 to give the honourable members ample time to scrutinized the documents and engage all relevant stakeholders. This makes our dear state about the first in the country to present the Appropriation bill to the Assembly in 2020.
“I’m indeed very glad to remark that the House of Assembly worked diligently in the overall best interest of the good people of Ekiti state to ensure conscientious and careful legislative review and ultimate passage of the appropriation bill on time without compromising due process and quality review.
“All the various committees of the House worked assiduously with the Finance and Appropriation Committee to ensure a seamless legislative review. This rare feat is obviously made possible through the selfless, dedication, determination, and commitment of distinguished honourable members of the House of Assembly.
“I enjoined you to sustain this harmonious relationship so as to jointly take Ekiti State to an enviable place of pride among the committee of states. Once again, I commend the renewed partnership, the mutual understanding as the effective collaboration between the executive and the legislature, I expect that going forward, this will not only continue to be the standard, it will be the beacon that others will follow.
Earlier, the speaker, Rt. Hon. Funminiyi Afuye prayed for a robust economy that will enable government drive the five pillars of the administration to a desired end.
He stressed that despite the economic recession occasioned by the coronavirus pandemic and other factors which have negatively affected the state’s sources of revenue, the Fayemi-led administration has strived to ensure the implementation of the 2020 budget with determination and focus.
Source: The Nation
