The Governor of Ekiti State, Mr. Biodun Oyebanji, has presented the budget estimate for the 2024 fiscal year to the State House of Assembly, totaling N159,572,482,915.61 billion Naira.
The budget is named the “Budget of Sustainable Growth and Development.” It follows a Zero-Based Budgeting (ZBB) approach, with N71,994,898,233.20 allocated for capital expenditure and N87,577,583,682.41 for recurrent expenditure, maintaining a 55:45 ratio in favor of recurrent expenditure. The Governor emphasized that this budget was crafted through extensive consultations with the people of Ekiti.
The primary focus of the 2024 budget is to advance the government’s six-pillar agenda for shared prosperity. Its objectives include creating a conducive environment for micro, small, and medium enterprises to thrive, achieving shared prosperity through collaboration, fiscal prudence, and quality service delivery, expanding the revenue base through internally generated revenue, ensuring the timely completion of ongoing development projects, empowering youths and women, strengthening the state’s security architecture, supporting food security and agro-allied industries, and promoting good governance through budget discipline and accountability.
In terms of capital projects, Governor Oyebanji emphasized that his administration recognizes the significance of such projects for socio-economic development. Critical projects in the 2024 budget, developed through citizen engagement and input from various government agencies, encompass infrastructure development, artisan, youth, and women empowerment, urban renewal projects, agriculture and related value-chain development, and road rehabilitation, among others.
The health sector is also a top priority, with a commitment to providing quality and affordable healthcare services and the urgent renovation of healthcare facilities. Additionally, the government plans to enhance agricultural productivity, improve seed and seedling provision, and expand rural roads to boost agricultural distribution.
Governor Oyebanji highlighted that the government adopted a bottom-up approach, holding town hall meetings in three Senatorial Districts to gather input from citizens, making sure the budget aligns with the principles of open government and inclusivity.
The Governor extended his appreciation to the State House of Assembly for their cooperation and urged investors, development partners, and Ekiti citizens to consider Ekiti as a favourable destination for business and leisure. He emphasized the state’s commitment to prudence, transparency, and accountability.
The Speaker of the House, Rt. Hon. Adeoye Aribasoye, commended the Governor for his efforts in developing the state, particularly in education, entrepreneurship, investments, and critical sectors. He assured that the Assembly would diligently scrutinize the budget proposal to align it with the vision of shared prosperity, social justice, and sustainable development.
The Assembly’s leadership also expressed a vote of confidence in Governor Oyebanji for his notable performance and commitment to growth and development in various areas, including good governance, youth development, human capital development, and agriculture. The event was attended by various dignitaries, including the Deputy Governor, the Governor’s wife, members of the State House of Assembly, and traditional rulers.
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