Fayose presents N67bn budget, assigns N100million to “stomach infrastructure”

Ayo Fayose, Ekiti state governor.

The Ekiti State governor, Ayodele Fayose, on Tuesday presented a budget proposal of N67billion to the State House of Assembly for the 2016 fiscal year.

Presenting the budget, Mr. Fayose said the figure represents a 17 percent reduction in the 2015 appropriation, which was N80billion.

According to him, the cut was informed by his government’s decision to live within its means and avoid proposing unrealizable projects.

The governor clarified that he decided to involve the Economic and Financial Crimes Commission and Independent Corrupt Practices and Other Related Offences Commission to monitor the implementation in order to prevent “political petitioners” from peddling lies against his government.

The governor appropriated N100 million to his “stomach infrastructure” programme, and also restored the scrapped Social Security Scheme for the indigent, which was initiated by the Kayode Fayemi-led government.

Mr. Fayose said 10,000 persons would continue to receive the sum of N5, 000 monthly from January, 2016.

Giving the details of the budget tagged Budget of Purposeful and Strategic Transformation, Mr. Fayose said N24billion and N44billion were earmarked for capital and recurrent expenditures respectively.

Under the capital expenditure, Mr. Fayose said the proposed airport, Oja Oba Market and the Flyover would become realities in 2016, being part of his efforts to give Ekiti a befitting facelift.

He expressed dissatisfaction with the huge recurrent figure of N43 billion, saying it was to enable him cater for workers’ welfare, which is a priority of his government.

He reiterated his position against the plan by the Nigeria Governors’ Forum to either retrench or cut the N18, 000 minimum wage, saying his government won’t associate with any anti-people policy.

Mr. Fayose said he recorded a 70 per cent budget performance in 2015, despite the dwindling revenues caused by slump in oil prices in the international market.


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: Revealed!!! The Only Way Left of Getting an Extra Large Manhood and also Last Up to 38Mins+. Get the Insider Secret Here


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


  • persona

    Let us hope he finds money to finance the budget.
    Ekiti makes about N100-150m from IGR, gets about 2B from FG, this is amounting to half of what he has proposed.
    I hope the budget is not dead on arrival.
    Why would he embark on an airport project at the expense of empowering the youth in the state to rapidly support agriculture?
    He will retain 100m for the “boys” so as to insulate himself from the center.

  • Proud Yoruba

    Four sources for developmental financing:

    1. Trade 30%
    2. Foreign direct investment 30%
    3. Remittance or taxes 25%
    4. Capital market 10%

    Aid 5%

    You can do it Fayose, it is time to bring Ekiti into the 21st century. You can get China to trade with you on your cash crops, cocoa, palm oil, kola nut, etc. you can get FDI if you talk to Lagos state and ask them to include your state in their big businesses they are bringing toLagos, every capital city in SW should have branches of Walmart, etc. go to the capital market t borrow 10% of your budget and use to finance income generating projects.

    Stop being lazy, you can do it. Join TSA to get better hold f the states revenues first, then plan projects and go and seek funding for them. Without capital expenditure, you can grow your economy.

  • Arabakpura

    Stomach infrastructure: an ingenious way to fleece Ekiti people!

  • emmanuel

    Cool dude. I jeg nor cut the coqt wen big pass you and end up with uears of salary arrears.
    Anyway, good you did something for stomach infrastructure openly. That is smaller tgan what Fayemi spent to entertain guest at two owambes.
    Meanwhile, the beneficiaries would be down troddens and thise who would appreciate it.
    Carry go.

  • favourtalk

    I just pity the people of Ekiti that believe he meant well for them and he is using that opportunity to squander their wealth indirectly by acting nice to them and stealing thier billions

  • olawale

    And ekiti people might eat away their destiny with Fayose’s lavish state funds on SMI.

  • Aremu Mathew Okikiolu

    Can’t Fayose teach his clan folks how to fish? His stomach infrastructure bull is degrading to the cerebral people of Ekiti.

  • shegxy

    fayose is Ekiti peoples daddy he will feed them with food till eternity, moreover they dont need anything else in ekiti apart from food food food jeun ko ku

  • sam

    Fayose has pocketed the #100m. How do you receipt or account for such expense.