Governance leads with 36 per cent as Fayemi presents N100bn 2022 budget proposal

The Ekiti State governor, Dr Kayode Fayemi, on Thursday, presented before the state House of Assembly a little over N100 billion as the 2022 budget proposal.

In the 2022 appropriation, the recurrent expenditure was pegged at N60.8 billion representing 60 per cent, while N40 billion was earmarked for capital expenditure representing 40 per cent.

The budget estimate which was further conceptualised in line with the five pillars of the administration has Governance with 36 per cent; Infrastructure and Industrial development (28 per cent); Knowledge economy (20 per cent); Social investment (14 per cent) and Agriculture and rural development (2 per cent)

According to the governor, the 2022 proposal which is N9 billion less than that of 2021 and tagged ‘ Budget of Legacy and Consolidation ‘ was designed to help the government in meeting up with its promises and put the state on a strong pedestal in the area of the economy.

The Governor also announced that the 2022 budget incorporated the budget proposal submitted by the two arms of government to the executive in accordance with the provisions of the fund management law.

Fayemi while soliciting the support of the lawmakers for a speedy consideration towards the commencement of implementation of the budget from January, the governor assured the people of the state that all ongoing projects across the 16 council areas would be completed before the expiration of his tenure.

He said: “In fulfilment of our government philosophy of budget realism, the draft 2022 Budget has been painstakingly developed to ensure a minimal variance. The Budget has been formulated with well-articulated strategies that will reduce dependence on Federal Allocation through improved IGR by widening our revenue base and identifying new sources of revenue.

“Mr Speaker, Honourable Members, distinguished ladies and gentlemen, the programmes and projects that are contained in the 2022 Budget proposal that I have just presented are derived from the essential needs to grow various sectors of the economy. Concerted efforts shall be made to source for funds for full implementation of the budget.

“May I crave the indulgence of this Honourable House, as usual, to ensure thorough, painstaking and timely consideration and passage of the 2022 Appropriation Bill to pave way for its immediate implementation from January 1, 2022.”

Earlier, the Speaker, Funminiyi Afuye assured the gathering that the Assembly would work assiduously on the appropriation bill and ensure its passage to law before the end of the year.

He commended the Governor for translating the 2021 budget into reality, adding that the assembly would continue to identify with and collaborate with executives on a matter that has to do with the development of the state.

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Governance leads with 36 per cent as Fayemi presents N100bn 2022 budget proposal