The Ekiti State Government has assured that the 2024 budget will be fully implemented for the growth and development of the state.
The Commissioner for Budget and Economic Planning and Performance Management, Niyi Adebayo, stated this in Ado-Ekiti while presenting the breakdown and highlights of the N159.5bn 2024 budget of the state.
Adebayo said that 40% of the total budget, christened “Budget of Sustainable Growth and Development,” has been earmarked for infrastructure and industrial development, while 13% was allocated for youth development and job creation.
He added that N600 million is to be spent on power interventions in 2024 to enhance and boost electricity supply in the state.
The Commissioner disclosed that N300 million was allocated for the purchase and installation of transformers to relieve the existing power sub-stations in the state.
The rural electrification of Igede Farm Settlement and Oye Local Government, according to him, would gulp N150 million, while N150 million would be spent on the extension of the operational Independent Power Project.
He said that Governor Biodun Oyebanji’s administration was determined to invest in the power sector to enhance electricity supply in the state and boost economic growth.
Describing power supply as an impetus and a major boost to the growth of industries as well as Small and Medium Enterprises, he said this accounted for the proposed huge investment in the power sector.
The budget commissioner added that the 2024 budget also made provisions for the construction of a flyover from Ejigbo to Okeyinmi, the reconstruction of the Ikere-Igbara Odo road, and the construction of a 9.2 km Atlas-Ajebamidele, Deeper Life-Alasia-Shepherd-Omisamjana Road.
Others include the rehabilitation of the Ado-Ifaki Road dualization, rehabilitation of public buildings, land clearing for agricultural purposes, renovation of public schools, and construction of perimeter fencing at the Government Technical Colleges in Otun, Igbara Odo, and Ijero.
Adebayo noted that provisions were also made for the completion of a new befitting Governor and Deputy Governor’s Lodge in Asokoro, Abuja, and the purchase of office furniture and equipment for MDAs for effective service delivery.
He explained further that revenue of N53.6bn was expected from the federation account, N28bn from VAT, N22.5bn to be raised from internally generated revenue, N25.5bn from grants with an opening balance of N4.8bn.
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