Faster than Buhari, Fayose presents N93.4bn budget for 2017

Governor Ayodele Fayose of Ekiti state on Tuesday, December 6, presented a budget estimate of N93.4 billion to members of the House of Assembly in Ado-Ekiti.

The budget, ‎which is 33% higher than the 2016 budget of N70.5 billion, was christened "Budget of Consolidation."

While appraising the 2016 Budget Fayose said the state only recorded 89% performance due to unfavorable economic climate in the country and which negatively affected the state government.

READ ALSO: PMB using economic recession to punish Nigerians – Fayose

However, despite the challenges faced by the government in getting finances for the 2016 Budget, Fayose noted that a lot of pro‎jects were still executed or started.

‎On the highlights of the 2017 Budget, Governor Fayose said it would focus on the completion of critical projects vital to the administration's Six Cardinal Programme.

He also said attention would be paid to improving the internally-generated revenue of the state and to curtail extra-budgetary spendings.

For the 2017 Budget estimates, the Recurrent Expenditure is ‎N55.02 billion which is 59 percent of the budget, while ‎Capital Expenditure is N38.42 billion or 41 percent of the estimates.

Out of th‎e Capital Expenditure, the Economic Sector will have N17.9 billion which is 19 percent, Administrative Sector ‎gets N11.5 billion or 12 percent, Social Sector N7.3 billion or 8 percent. Environmental Sector is N1.5bn or 2 percent.

In a related development, President Muhammadu Buhari has shifted the date of his presentation of the 2017 budget again. The new date is now Wednesday, December 14.

The president had moved the presentation to today, December 6 from an earlier reported date of December 1.