Governor Biodun Oyebanji of Ekiti State has signed into law, a budget estimate of N159,572,481,915.51 which was approved by the state’s House of Assembly. The budget comprises of 56% appropriated for Recurrent Expenditure while 44% is earmarked for Capital Expenditure.
Oyebanji signed the document, tagged ‘Budget of Sustainable Growth and Development’ on Wednesday after the speaker of the House of Assembly, Adeoye Aribasoye and other principal officers of the assembly presented the approved budget to the governor.
While speaking at a brief ceremony held at the Exco Chamber of the Governor’s Office, Ado Ekiti to commemorate the budget signing, Governor Oyebanji promised to fully implement the budget to drive sustainable growth and improve the standard of living for the people of Ekiti State.
Oyebanji said the budget is expected to stimulate economic activities, create job opportunities, and enhance the overall socio-economic landscape of the State as well as assist his government to deliver on its campaign promises and fulfill its obligation to the people.
He said:
” I am so impressed with the quality of debate and scrutiny put in place by the members of the house of assembly.
“Mr. Speaker, I have listened to you on the need to be committed to implementing this budget, in partnership with the House of Assembly through your oversight, we will ensure that we implement this budget to the letter because the only way we can actually incentivize our people and deliver on our promise is to implement the budget. ” Oyebanji declared.
While presenting the appropriation bill for the consideration of the lawmakers last October, governor Oyebanji said the budget was the outcome outcome of citizens engagement and the work plans developed by MDAs. The governor listed capital projects his government intended to execute including the empowerment of artisans, youths and women, urban renewal/ development projects, agriculture and related value-chain development, construction of Ikere-Igbara Odo road, Ajebandele – Deeper life – Alasia – Omisanjana road, Ikole – Ara – Isinbode road and Igbara Odo – Ikogosi road rehabilitation, among others
He added that quality healthcare delivery is a top priority for his government as there are plans to provide quality and affordable healthcare services as well as urgent renovation of health facilities equipped with state-of-the-art facilities.
He told the lawmakers: “In contrast to the conventional incremental budgeting system, Zero-Based Budgeting (ZBB) approach was adopted in the preparation of 2024 Budget.
“The Government continues to comply with the Open Government Policy and adopted the bottom-up approach to develop the draft fiscal document. To ensure inclusivity, I held citizen engagement/Town Hall meeting in the three Senatorial Districts. This was done to take inputs from the populace towards the proposed 2024 Budget and receive feedbacks on the programmes and activities of Government, and ensure sustainability of the projects/programme implemented in the communities. The overall focus of the Budget is to sustain our quest for Shared Prosperity through the Six-Pillar Agenda of Government.
“Mr Speaker, the Government is mindful of the catalytic impact of capital projects on the socio-economic development of the State. This administration is therefore undeterred in its commitment to ensure speedy infrastructural development in the State. The Government, in 2024, will embark on a good number of capital projects without compromising the immediate well-being of the people. To this end, the sum of N71,994,898,233.20 has been proposed for capital expenditure in the 2024 fiscal year.” Oyebanji explained
