Ekiti State Governor, Ayodele
Fayose, on Friday signed the N98.6bn 2018 budget into law.
The Ekiti State House of Assembly
had on December 19 passed the 2018 budget as presented by the governor.
Signing the budget into law at
the Government’s House in Ado Ekiti, the governor commended the assembly for
seeing to the eraly passage of the budget.
“This is the last budget I will
sign as governor of Ekiti having done the little God has helped me to do. I
commend the assembly for standing by me. It is my prayer that this assembly
will continue to grow from strength to strength.
“You have demonstrated
responsible leadership. I’m not in doubt record will show you as one of the
best assemblies we ever had in the history of Ekiti,” he said.
The 2018 “Budget of
Accomplishment” was presented at a packed full plenary presided over by the
Speaker Kola Oluwawole on December 5.
The budget is greater than 2017
budget of N93.09bn by 5.5 per cent. The budget consists of N66.4bn recurrent
and N32.1bn capital expenditure.
Fayose had said, “The recurrent
to capital ratio is 67:33 as against 42:58 in the 2017 fiscal year. This was in
consonance with the Fiscal Responsibility Plan which is globally acceptable.
“We have chosen to be sincere and
be realistic with our people instead of having a bogus budget that is
unrealisable.”
He added that the budget would be
financed through federal allocation (33 percent), internally generated revenue
(11 percent), Value Added Tax (11 percent), Education Intervention Fund (4
percent) and sundry incomes (12 percent).
He said the budget when passed
would help to complete projects under completion
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