Fayose presents N98.6 billion 2018 budget to assembly

Ekiti State Governor, Ayodele Fayose
Ekiti State Governor, Ayodele Fayose

The Ekiti State Governor, Ayodele Fayose, on Tuesday laid before the state House of Assembly the 2018 budget of N98.6 billion.

Tagged the Budget of Accomplishment, the 2018 budget is about six per cent higher that of 2017 which was N93.09 billion.

While making the presentation, Mr. Fayose said he was satisfied with what his administration had achieved in the last three years in spite of serious economic and political challenges.

The governor also used his visit to the assembly to present his anointed candidate for the 2018 governorship election, Kolapo Olusola, to the lawmakers, saying he would be the one to present the 2019 budget.

The breakdown of the budget shows that N66.4 billion will go for recurrent expenditure, while capital expenditure is expected to gulp N32.1 billion.

Mr. Fayose said some of the objectives of the 2018 budget include the completion of critical ongoing capital projects, improvement of internally generated revenue, improvement in education, health services, and sustenance of good governance.

Reviewing the three previous budgets he presented in 2015, 2016 and 2017, Mr. Fayose noted that they performed at 66, 75 and 66 per cent respectively, and noted that the performances were higher than those of the federal government.

“By the grace of God, the High Court Complex will be completed and inaugurated by the end of March 2018, the New Governor’s Office by April 2018, the flyover by May 2018 and the new Ojaoba Market by the first week of July, 2018,” he assured.

“This is my last budget presentation as the governor of the state. We will complete all ongoing projects.

“We are also realistic about our expectation as far as revenue generation is concerned and we have not set ourselves on a needless high horse.

“As for the issue of outstanding workers’ salaries, we still rank among the best in the region and the nation. I am positive that we won’t leave office debtors of salaries.

“Apart from presenting the budget, I also crave the indulgence of the honourable members to present my deputy, who I strongly believe will be the person to present the 2019 Budget to the Assembly, Prof Kolapo Olusola. We have to allow for continuity for the good works to continue and for our state to move forward.”

The Speaker, Kola Oluwawole, in his remarks, said because the lawmakers were part of the drafting of the document, it would not take much time to pass it into law.

He commended the governor for structuring the budget within expected revenue profile.

“The legislature as an arm of government will not shy away from performing its duties. Governor Ayodele Fayose’s open door policy, prudent management of resources and accessibility are worth commending. People have found accommodation and succour under him,” remarked the speaker.

“Dwindling oil revenue is a lesson for us not to put all our eggs in one basket. The immediate past administration compounded our economic situation by unbridled borrowing and engagement in frivolous projects and we are paying for it now, as a large chunk of our monthly allocation is deducted to service debts.”


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