Ekiti State Governor, Kayode Fayemi has Presented the 2022 Appropriation Bill to the State House of Assembly Titled “Budget of Legacy and Consolidation”
The sum total of the Budget is One Hundred Billion, Seven Hundred and Three Million, Nine Hundred and Ninety Three Thousand, Two Hundred and Forty One Naira, Sixty Kobo (100,703,993,241.60)
Recurrent expenditure takes 60% while Capital Expenditure takes 40%. It is 9 Billion Lesser than the 2021 Budget.
Governance takes the lion’s share of the budget, with 36 billion, followed by infrastructure, at 28 billion. The Knowledge Economy will receive 19 billion Naira, Social Investment will receive 14 billion Naira, and Agriculture and Rural Development will receive 2 billion Naira.
While presenting the budget, the Governor stated that the budget has been developed with well-articulated strategies that will reduce reliance on federal allocation through improved IGR by broadening the revenue base and identifying new revenue sources.