Fayemi Proposes N109.6bn as 2021 Budget

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Kayode Fayemi

By Victor Ogunje

The Ekiti State Governor, Dr. Kayode Fayemi, yesterday presented the sum of N109.666, 376, 727.61 billion as the budgetary estimate for the 2021 fiscal year before the state House of Assembly.

Fayemi said the budgetary estimate christened ‘Budget of Recovery and Restoration’ would focus on food security, social investment, rural development, infrastructure and security, for speedy economic recovery after the COVID-19 pandemic.

The governor, who spoke yesterday on the floor of the House of Assembly while presenting the 2021 appropriation bill for perusal and ratification, said no efforts would be spared to salvage the people from poverty and hunger.

Giving the breakdown of the budget, Fayemi said it contains N57, 997, 989,982.62 billion as recurrent expenditure and N51,668,386,739.99 as capital expenditure.

He stated that the 2021 budget estimate would be majorly financed through revenues accruing to the state from the Federation Account, internally generated revenue (IGR), Value Added Tax (VAT), grants and ‘brought-down’ from development partners.

Having a retrospect of the 2020 budget, the governor disclosed that the sum of N124.6 billion was budgeted for that year, but was reviewed downward to N91.1 billion due to the COVID-19 pandemic that dented a devastating blow on the global economy and caused a slump in the oil prices at the international market.

“This budget estimate is a product of public consultations being interactions we held with the people across the three senatorial districts of the state.

“The 2021 budget is aimed at ensuring the restoration of the economy from the COVID-19 debilitating effect and lifts the people out of poverty, hunger and anger in the land, and that was why it is termed ‘Budget of Recovery and Economic Restoration’,” he stated.

The governor praised the lawmakers for coalescing efforts with the executive for the smooth running of the government, urging them to accord the bill expeditious passage for implementation to begin in earnest.

Fayemi used the opportunity to pay glowing tribute to the former Deputy Speaker of the Assembly, Hon. Abayomi Adeoti Saliu, who died in office 10 years ago.

Fayemi added that Saliu, who was in the Assembly between 2007 and 2010, played critical role in the reclamation of his mandate from former Governor Segun Oni on October 10, 2010.

Applauding the government for holistic implementation of the 2020 budget, the Assembly Speaker, Hon Funminiyi Afuye, promised that the lawmakers would look at the budget forensically and ensure speedy passage for the benefit of the people.