Fayemi signs 2021 appropriation bill of N109 billion into law

Ekiti State Governor, Dr Kayode Fayemi, on Wednesday, signed the 2021 Appropriation Bill of N109 billion into law with a pledge to ensure timely completion of ongoing projects and rejuvenation of the state economy.

This followed Tuesday’s passage of the appropriation bill by the House of Assembly.

In the 2021 budget, Agriculture and rural development will gulp about N7.9 billion representing 7 per cent; Infrastructure and Industrial development with N25.2 billion at 23 per cent and N21.9 billion representing 20 per cent were provided for the knowledge economy of the administration.

The social investment programme for the citizens will gulp N25.2 billion which represents 23 per cent and the expenses relating to governance would take N29.3 billion representing 27 per cent.

While signing the bill in Ado-Ekiti, the state capital, Fayemi said the 2021 budget estimates, tagged “Budget of Recovery and Economic Restoration” was meant to usher the state into the second half of the administration with the objectives of completing ongoing projects and commencing new ones that are very critical to the economic development of the state.

He explained that the assent to the budget signified the readiness of the government to effectively implement the budget and deliver on its promises to the people adding that the budget would also increase the state’s ability to respond to economic challenges and achieve fiscal sustainability.

The Governor assured the people that all the lined up projects and programmes would immediately begin to receive adequate attention for the benefit of the people.

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Governor Fayemi said: “The 2021 budget estimates is N109,666,376,722.61, out of which 53 per cent is appropriated for recurrent expenditure and 47 per cent for capital expenditure. The breakdown of the 2021 budget of recovery and economic restoration would be presented to the public by the Hon. Commissioner of Budget and Economic Planning in the coming days.”

Fayemi expressed his appreciation to Ekiti people for their love, prayers and support that had kept the government going against all odds. “We are moving on, still impacting lives and building legacies.”

He also thanked members of the House of Assembly for passing the 2021 appropriation bill expeditiously despite the challenges of the moment, adding that they did not only pass the bill on time but was thorough and painstaking in ensuring the bill passed through the necessary legislative process and scrutiny.

“You would recall that I presented the 2021 Appropriation Bill to the House of Assembly on the October 27, qw2020 to give the honourable members ample time to scrutinise the documents and engage all relevant stakeholders. This makes our dear state about the first in the country to present the Appropriation bill to the Assembly in 2020.

“I’m indeed very glad to remark that the House of Assembly worked diligently in the overall best interest of the good people of Ekiti state to ensure conscientious and careful legislative review and ultimate passage of the appropriation bill on time without compromising due process and quality review.

The Governor, who also commended the Ministry of Budget for their dedication, hard work and commitment in the preparation of the 2021 draft estimates recalled that Ekiti State budget migrated to the International Public Sector Accounting Standard (IPSAS) in 2020 fiscal year leading to a new milestone by making the 2021 draft estimates comply with the reviewed national chart of an account which is a requirement for the state’s fiscal transparency and sustainability programme for the result.

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

NIGERIAN TRIBUNE

Fayemi signs 2021 appropriation bill of N109 billion into law