New Telegraph

Fayemi presents N109.60bn 2021 Budget

Ekiti State Governor, Dr. Kayode Fayemi, yesterday presented N109, 666, 376, 722.61 proposed Appropriation Bill for 2021 to the state House of Assembly for consideration. The budget christened “Budget of Recovery and Economic Restoration” has N 51,668,386,739.99 as capital expenditure representing 47 per cent and N57,997,989, 982.62 representing 53 per cent as recurrent expenditure.

The draft bill has governance taking the largest share of N29, 322,242,503.22, representing 27% while a total of N25, 274, 622, 256.2 representing 23 % is set aside for Social Investments. Others including Infrastructure and Industrial Development got N25,217,177,807.67 representing 23%; Agriculture and Rural Development N7,920,439,216.75 representing 7% and N21,931,894,938.68 representing 20% for Knowledge Economy.

Fayemi, who presented the budget before Speaker Funminiyi Afuye and other members of the Assembly, said the budget was designed to enhance speedy economic recovery and restoration of the people and the state from the debilitating effects of the coronavirus outbreak. The Assembly Complex witnessed an exciting mood as the Deputy Governor, Otunba Bisi Egbeyemi, members of the state Executive Council, traditional rulers led by the Chairman traditional council of Obas and Alawe of Ilawe Ekiti Oba Ajibade Alabi, party leaders, interest groups and other loyalists of the Governor thronged the Assembly complex for the event.

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