The Governor of Ekiti State Kayode Fayemi has signed the states’ N109.7 billion appropriation bill into law for the 2021 fiscal year.
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The budgetary provision was passed by the House of Assembly on Tuesday, having been presented by the Governor on October 27, for perusal and ratification.
Fayemi, who spoke at the signing of the budget christened: “Budget of Recovery and Economic Restoration” said the 2021 Budget estimate is N109, 666, 376, 722.61, out of which 53% is appropriated for Recurrent Expenditure and 47% for Capital Expenditure.
The Governor thanked the Assembly for its painstakingness and thoroughness in dealing with the budgetary provision, saying the realisable amount would help in deepening the economy of the state and bringing more development to the people.
He said the breakdown of the 2021 budgetary provision will be presented to the public by the Honourable Commissioner for Budget and Economic Planning, Mr Femi Ajayi in the coming days.
“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-Kete. 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 lined-up projects and programmes will immediately begin to receive adequate attention for the benefit of our people.
“I acknowledge the efforts of everyone who collaborated and worked painstakingly to produce the 2021 Appropriation Bill, that I have just signed into law.
“Once again, I commend the renewed partnership, the mutual understanding as well as collaboration between the executive and the legislature. I expect that going forward, this will be the standard”.