Fayemi signs 2021 budget into law

Governor Kayode Fayemi

Governor Kayode Fayemi: Ekiti to produce 1

Governor Kayode Fayemi

By Ariwodola Idowu

Ekiti Governor Kayode Fayemi on Wednesday signed the N109.7 billion 2021 budget into law.

The signing came barely 24 hours after the State House of Assembly approved the budget proposal at plenary earlier on Tuesday.

The lawmakers passed the budget ”Budget of Recovery and Economic Restoration” about three months after the governor presented it to them on Oct 27.

Fayemi, while speaking in Ado Ekiti at the signing of the budget, noted that the 2021 budget estimate was N109, 666, 376, 722.61.

Out of which 53 percent was appropriated for recurrent expenditure and  47 percent for capital expenditure.

He thanked the assembly for its thoroughness in dealing with the budgetary provisions, saying that the realisable amount would help in deepening the state’s economy and bring about more development.

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The governor said the detailed analysis of the 2021 budget would soon be presented to the public by the Commissioner for Budget and Economic Planning, Mr. Femi Ajayi.

“As I signed the 2021 Appropriation Bill into law today, it shows we are ready to effectively implement the budget and deliver our promises to Ekiti people.

“It will also increase the state’s ability to respond to economic challenges and as a government, we will do the needful to achieve its fiscal sustainability.

“All the programs and projects lined up will immediately begin to receive adequate attention for the benefit of our people,’’ Fayemi said.

Earlier, the Speaker, Mr. Funminiyi Afuye, prayed for a robust economy that would enable the government to drive the five pillars of the administration to the desired end.

The speaker noted that despite the global meltdown due to Coronavirus and other critical factors that had affected the sources of revenue accruals, the administration strove to ensure the implementation of the 2020 budget with determination and focus.

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