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Fayemi presents N124.7b budget estimate to Ekiti Assembly

Ekiti State Governor Kayode Fayemi has presented the 2020 Appropriation Bill of N124, 724,869,355.95 to the House of Assembly. The bill, which is christened ‘Budget of Deliverables’, has N53,538,093,806.59 (43 per cent) as capital expenditure, while the recurrent expenditure is N71,186,775,549.36 (57 per cent).

Fayemi said the budget was tailored after his administration’s five-pillar agenda for development, which is aimed at enhancing good governance and speedy economic transformation of the State.

The breakdown of the budget along the five pillars give Agriculture and Rural Development N3,677,992,233.29 (three per cent), Knowledge Economy N24,704,934,736.29 (20 per cent); Social Investments N11,188,372,994.37 (nine per cent), Infrastructure and Industrial Development N39,728,043,550.73 (32 per cent), and Governance N45,425,522,841.27 (36 per cent).

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