Christened ‘Budget of sustainable growth and development’, it has a total sum of N87,577,583,682.41 as recurrent expenditure and a sum of N71,994,898,233.20 as capital expenditure.
Oyebanji urged the Assembly presided over by the Speaker, Adeoye Aribasoye, to expeditiously pass the bill of the budget.
The governor said, “To sustain economic growth and other positive indices of the present administration, a total revenue of N159,572,481,915.61 billion comprising revenue from Federal Allocation, Value Added Tax, Internally Generated Revenue (from EKIRS, MDAs and Tertiary Institutions), International Donor Agencies, Innovative and Development Effectiveness for Acquisition of Skills and other sundry income sources is proposed”.
Oyebanji, said N20 billion would be used to ensure that the year 2024 witnessed the development of massive infrastructures.
He said, “There is no gain-saying the importance of critical infrastructural development to overall economic development. As part of the efforts to revamp and transform our infrastructural facilities, the sum of N20,302,000,000.00 has been proposed for the sub-sector.”
The governor noted that the budget proposal was a product of the 30-year State Development Plan, the Six Pillars of his administration, the outcome of the citizens’ engagement, and the work plans developed by the various MDAs.
He said that based on the above, the government had proposed to carry out critical initiatives and projects in 2024 in addition to the completion of ongoing projects.
The initiatives and projects, he said, included “Capacity building and empowerment of artisans, youths and women; urban renewal/development projects; agricultural and related value-chain development and facilitation of enhanced access to credit and other critical inputs needed by the MSMEs and informal sector.
Others included urban and rural electrification, construction of the Cultural Centre, development of Ado Ekiti Central Business District, renovation of schools across the state, renovation/equipping of secondary and tertiary health facilities, and construction of an Indoor Sports Complex.
Roads proposed for construction included Ikere-Igbara Odo Road, Ajebandele – Deeper Life – Alasia – Omisanjana Road; Ikole Ara Isinbode Road; Igbara Odo-Ikogosi Road rehabilitation; Itawure-Okemesi Road rehabilitation; and Ikere-Ise-Emure Road rehabilitation.
