Ekiti Budgets N98Billion To Empower The People

February 5, 2013

Ekiti State Government has said that the focus of its 2013 budget is to empower the people and make poverty history in the state.

Speaking in Ado Ekiti while presenting a detailed analysis of the 2013 budget, the Permanent Secretary in the State Ministry of Budget and Economic Planning, Mr. Sola Folorunsho noted that the total budget for the 2013 fiscal year stands at a total sum of N97,630,445,893.00.

The Permanent Secretary said a sum of N48,465,677,012 representing 49.6% was set aside as recurrent expenditure while N49,164,768,881.00 or 50.4% was earmarked for capital expenditure.

According to him, the budget tagged ‘’Budget of Empowerment and Consolidation’’ would allow the exploit of all strategies geared towards grass root and community development.

Mr. Folorunso said it also emphasised government’s intention to complete all on-going capital projects as well as attend to the requests made by the people of the state during Governor Fayemi’s Town Hall Village Square meetings.

Describing the 2013 budget as a reflection of the collective aspiration of the people for accelerated development across all sectors of the economy, he noted that its preparation involved wide consultations with stakeholders.

Folorunso explained that the preparation of the Budget estimates which was driven by Medium Term Expenditure Framework (MTEF) commenced with the Fiscal projections of revenues for 2013 though 2015 using macro-economic assumptions of 99% confidence level on Baseline revenue, 60-75 confidence level on plausible revenue and 30-40 confidence level on Optimistic revenue.

Noting that result based budgeting method was adopted in preparing the budget as against historical incremental budgeting, the Permanent Secretary stressed that the method ensured that government Ministries, Department and Agencies (MDAs) actually justified their revenue and expenditure proposals, adding that the system would guarantee efficient allocation of public fund to priority sectors.

In his goodwill address the State Head of Service, Mr. Olubunmi Famosaya who enjoined Civil Servants in the State to see themselves as

tools for the absolute implementation of the budget expressed confidence in the ability of the workforce to ensure its successful implementation.

Mr. Famosaya therefore pledged the continued loyalty and Commitment to duty of the Civil Servants in the State.

Last modified: February 5, 2013

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