By Yinusa Ishola
Ado-Ekiti, Jan. 20, 2022 Ekiti Government says it will expend N11.6 billion on rehabilitation of the state capital township roads through the 2022 budget to ease human and vehicular movements.
The state Commissioner for Budget and Economic Planning, Mr Olufemi Ajayi, made this known on Thursday at a news conference in Ado- Ekiti.
Ajayi, at the conference, gave the detailed analysis of the ₦100.75 billion state budget recently signed into law by Gov. Kayode Fayemi.
He said that the budget was also designed to achieve the completion of the ongoing airport projects and other critical projects across the state in line with the five pillars of the present administration.
According to him, the budget will ensure the completion of the new Governor and Deputy Governor’s lodges in Abuja, completion of Secretariat building, landscaping and fencing of the State Secretariat Complex in Ado-Ekiti, as well as procurement of vehicles and digitalisation of personnel matters.
He listed other projects to include: land clearing for agricultural purposes, implementation of CARES projects, completion and rehabilitation of Ado-Iworoko-Ifaki dualisation road, Geographical Information System, urban re-generation project, procurement of instructional materials, renovation and construction of public schools, renovation and equipping of secondary health facilities.
To fund the budget, Ajayi explained that a revenue of ₦32.6 billion was expected from the federation account; ₦17.5 billion from Value Added Tax and ₦14.2 billion to be raised from the Internally Generated Revenue.
Others are: ₦13.5 billion from external grant; ₦6 billion from internal grant and ₦10 billion from capital development fund with an opening balance of ₦7.2 billion.
He assured that the present administration would leave no stone unturned in ensuring the full implementation of the 2022 budget through effective revenue.
“This administration will continue in its efforts in putting Ekiti State among the comity of States with high internally generated revenue.
“Some in the rapid private investment in agribusiness in Ekiti, while some will be through PPP arrangement.
“The gain derived from the optimal use of Treasury Single Account will be sustained during the fiscal year 2022 with the blockage of any identifiable loophole.
“The good relationship that exists between our international donor partners, local partners in a multilateral dimensions shall be sustained.
“Government shall continue to incentivise the internal revenue service to meet their monthly target,” he said.
Also, Mr Akintunde Oyebode, the Commissioner for Finance and Economic Development, disclosed that the administration had substantially reduced the state debt from an average of 16 per cent per annum to an average of under 10 per cent per annum through improvement of the state fiscal position and reduction of state cost of borrowing.
Oyebode said that the state government had concluded plans to engage the private stakeholders in the construction of the state’s ring roads.