" ITREALMS: Oyebanji presents N113.5bn budget estimate to Ekiti Assembly - ITREALMS

Thursday, November 03, 2022

Oyebanji presents N113.5bn budget estimate to Ekiti Assembly - ITREALMS

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Ekiti State Governor, Mr. Biodun Oyebanji, on Thursday presented a budget estimate of N113,572,718,523.82 to the House of Assembly for the 2023 fiscal year aimed at building on a strong foundation already laid for the development of the State.
Christened "Budget of Strong Beginning," it has a total sum of N80,362,578,854.29 as recurrent expenditure and the sum of N34,062,085,464.93 as capital expenditure.

The figure is about N13 billion higher than the last budget of N100,753,933,241.60 presented by the immediate past Governor of the state, Dr. Kayode Fayemi, in December last year, which was tagged "Budget of Legacy and Consolidation."

Oyebanji stated that the 2023 proposed budget was designed to address the challenges posed to subnational, national and global economies and the ripple effects of the economic downturn.

He disclosed that the budget which was largely the product of citizen’s engagement programme he had with stakeholders from towns and villages across the three senatorial districts of the State was designed to ensure that the internally generated revenue of the State is increased to reduce the dependence of the state on federal allocation.

He added that the 2023 budget was anchored on his administration's six pillars for Ekiti development which include Youth Development and Job Creation, Human Capital Development, Agricultural and Rural Development, Infrastructure and Industrialization, Arts, Culture and Tourism, and Governance.

The budget presentation which held at the chambers of the State House of Assembly Complex, Ado-Ekiti, was witnessed by the Deputy Governor, Chief (Mrs) Monisade Afuye; members of the State Executive Council, traditional rulers, heads of tertiary institutions, leaders of the ruling All Progressives Congress (APC) and party faithful.

Oyebanji assured on increased allocation of resources to the critical areas of infrastructure such as water supply, electricity, housing, improved road network and provision of other infrastructural facilities across the 16 local government areas of the state.

He identified some of the projects to be executed to include Ado Ekiti township Roads, construction of Atlas-Ajebamidele-Deeper Life -Alasia – Shepherd- Omisanjana road. Ikere–Ilawe road, Itapa – Omu- Ijelu etc roads, completion of the phase II of New Iyin road and rehabilitation of Igede – Ilawe road, among others.

The Governor stressed the need by all stakeholders to improve on the state Internally Generated Revenue (IGR), with the incorporation of the Nigeria National Petroleum Company (NNPC) Limited and attendant zero remittance to the Federation Account in recent times. This he said will cushion the effect and withstand possible revenue shock.

Speaking on what the budget aims to achieve, Oyebanji said: "Our goal is to safeguard our people’s lives, livelihoods, well-being and future. It is to create shared prosperity for all and to grow the economy, equip our people with valuable skills, create jobs, and expand the range of opportunities available for everyone.

"It is to create a conducive environment for investors to thrive in our economy, and to make Ekiti State the preferred destination to live, work, and invest. Let me assure you that the Budget I just presented represents the plan, policies and programmes designed by our Administration to achieve the collective aspirations of the good people of this State in my first year in Office.

"While I am in a hurry to develop all sectors of our economy, I am mindful of the challenge of limited resources. However, the pact I signed with Ekiti State is four years in the first instance.

"Our administration will make concerted efforts to touch and transform every sector of the economy as we journey in my tenure as your Governor. All the lofty ideas I have conceived cannot be realized without your support.

"Having been building on the foundation laid by my predecessor, it is my honour and pleasure to present the 2023 Budget Estimate which I have christened ‘Budget of strong beginning. We are starting strong because we are not starting afresh."

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