The Ekiti House of Assembly has passed the 2020 reviewed appropriation budget of the sum of N91.1 billion.
The passage followed the consideration of the report of the House Committee on Finance and Appropriation during Friday’s plenary presided over by the Speaker, Mr Funminiyi Afuye.
It will be recalled that the state government had reduced the earlier passed N124 billion appropriation for the year under review following the drop in oil price occasioned by the coronavirus ravaging the globe.
The Chairman of the House Committee on Finance and Appropriation, Mrs Olubunmi Adelugba, while submitting her committee’s report said the downward review of the 2020 budget became necessary due to the present economic reality in the state and the country.
“Due to the current COVID-19 pandemic which has threatened the full implementation of the State 2020 Budget as revenue from Crude oil, a major source of revenue to Ekiti has reduced.
” With present economic reality, there is a need to review the 2020 budget earlier passed, ” Adelugba said.
The recurrent expenditure after the passage of the reviewed appropriation now slashed from N71.1 billion to N59.1 billion, while capital expenditure has now been pegged at N32.1 billion from the initial N53.5 billion.
In his remarks, the Speaker, Ekiti House of Assembly, Afuye stressed the need for government at all levels to face the economic reality by embarking on achievable projects across the state.
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