Categories: Business Politics

Fayemi Proposes N124.7bn 2020 Budget To Ekiti Assembly

A file photo of Ekiti State Governor, Dr Kayode Fayemi.

 

 

Ekiti State Governor, Dr Kayode Fayemi, has presented the 2020 Appropriation Bill of N124.7 billion to the State House of Assembly.

Dr Fayemi who is also Chairman of the Nigeria Governors’ Forum presented the bill to the lawmakers during a session on Friday at the legislative chamber of the Assembly complex in Ado, the state capital.

The bill, christened ‘Budget of Deliverables,’ has N53.5 billion representing 43 per cent as capital expenditure while the recurrent expenditure is N71.1 billion, representing 57 per cent of the total budget estimates.

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Thirty-six per cent of the budget proposal which is the highest allocation is earmarked for governance while infrastructure and industrial development take the second-highest share of 32 per cent.

Similarly, the ‘knowledge economy’ which encompasses education gulps 20 per cent, becoming the third-highest allocation in the state’s 2020 fiscal year.

Governor Fayemi informed the lawmaker that he was delighted that development partners were helping the state government with rural road constructions and promotion of agriculture among other cheering projects aimed at developing the state.

Akinola Ajibola

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Tags: 2020 Budget Ekiti Assembly Kayode Fayemi

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