By Ayodele Oni
Ekiti State Governor, Mr. Biodun Oyebanji, has presented a budget estimate of N159,572,482,915.61 Billion Naira, to the state House of Assembly for 2024 fiscal year.
Christened “Budget of Sustainable Growth and Development” the estimate is a Zero-Based Budgeting (ZBB) is made up of N71,994,898,233.20 capital expenditure and N87,577,583,682.41 recurrent expenditure.
This represents ratio of 55:45 of recurrent to capital expenditure. The budget, according to the Governor, is a product of wider consultation with Ekiti people.
Governor Oyebanji explained that the overall focus of the budget is to sustain his administration’s quest for shared prosperity through the six pillar agenda of the government.
He highlighted the objectives of the 2024 budget to include creating enabling environment for micro, small and medium enterprises to thrive through friendly policies and provision of infrastructure; achieving shared prosperity through collaboration, compassion, fiscal prudence and quality service delivery.
It will also expand the revenue base in the area of internally generated revenue, and to also ensure timely completion of on-going developmental projects through equitable and effective distribution and allocation of available resources.
The governor also explained that the budget would provide a veritable platform for youths and women empowerment, skill acquisition and entrepreneur development; strengthen the security architecture of the state; cushion the effect of petrol subsidy removal.
According to him, it will guarantee food security and support agro allied industry as well as further promote good governance through budget discipline, probity and accountability in the allocation and utilization of government fund, among others.
On capital projects, Oyebanji, pointed out that his government is not unmindful of the importance of capital project on the socio economic development of the state and that his administration would embark on numbers of projects without compromising the well-being of the people of the state.
