Fayose Presents N67 Billion 2016 ‘Budget Of Reality’ To Ekiti Assembly (PHOTOS)

Fayose Presents N67 Billion 2016 ‘Budget Of Reality’ To Ekiti Assembly (PHOTOS)

By Wires | The Trent on December 10, 2015
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Governor Ayodele Fayose of Ekiti State presents budget to State House of Assembly | Facebook

Snippets from the hallowed chamber of Ekiti State House of Assembly as the State Governor, Mr. Ayodele Fayose presents the 2016 Budget to the House

-This is a budget of reality.

-A copy of the budget is to be forwarded to EFCC as well as ICPC so they can monitor budget performance.

-Year 2015’s N80 billion budget attained 70% implementation

-Year 2016 budget size is N67.044 billion with revenue to be derived from the following

1. Federal Allocation N26.5 billion
2. Internally Generated Revenue N9.8 billion
3. VAT N5.8 billion
4. Capital Receipt N24.8 billion

Governor Ayodele Fayose (l) of Ekiti State presents budget to State House of Assembly | Facebook
Governor Ayodele Fayose (l) of Ekiti State presents budget to State House of Assembly | Facebook

– Recurrent expenditure is to gulp N42 Billion (67%)

Breakdown of Recurrent Expenditure goes thus:

Personnel cost N7.9 billion
Other Charges ‪N2 billion
Grants to Parastatals N16.9 billion
Transfer to other funds N2.9 billion
Consolidated revenue fund charges N12.26 billion

-Capital Expenditure N24.9 billion (33%)

Breakdown for Capital Expenditure goes thus under the following sectors:

Economic Sector N14.9 billion
Social Services N1.5 billion
Environmental N1 billion
Administrative Sector N3.9 billion
TOF Capital N4.27 billion

-It’s a season of cutting our coat according to our cloth

-Payment of workers’ salary remains top priority

-The government has no regret that bulk of the money that comes into the state goes into workers’ salary payment

-Ekiti will neither downsize nor reduce the minimum wage

-Ekiti will not be a part of any policy that will take away food from the common man

-Everyone in the state is urged to go into peasant farming (at least) to cushion effects of the present economic downturn

-Government to make farm banks available to the people for easy accessibility of farmlands

-EKHA members urged to lead by example by venturing into farming thereby encouraging their constituents

Governor Ayodele Fayose of Ekiti State presents budget to State House of Assembly | Facebook
Governor Ayodele Fayose of Ekiti State presents budget to State House of Assembly | Facebook

-Government will in Year 2016 provide palliative and support for the less privileged at N5000 each for 10,000 people

-The government will only embark on projects it can complete

-Capital projects marked for kick off in 2016 includes:

1. New Oja Oba (The King’s Market)
2. The fly over project
3. The Airport project

-I assure the people of Ekiti that I am fully dedicated to your service, this budget is your budget

-Payment of tax is a must, Ekiti must not become a failed state as a result of dwindling allocation from Abuja, we must look inward and be determined to make a success of our state, I am happy to tell you that we have reached a reasonable agreement with some sectors of our economy as they have agreed to pay their taxes. The tipper association, meat butchers amongst others

-I appreciate you all for your support.

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