Fayose presents N98.6b, Gaidam proposes N92 budgets for 2018
Presenting the proposal at plenary session, which was presided over by the Speaker, Kola Oluwawole, he said the appropriation bill named: Budget of Accomplishment consists of N66.4 billion recurrent and N32 billion capital expenditure.
Fayose said the 2017 budgetary provision of N93 billion achieved 60 percent performance as at October.
He said the budget estimate will be financed through Federal allocation, internally generated revenue, Value Added Tax, Paris club refunds and other sundry sources.
The governor noted that that budget when passed into law would help to complete the flyover under construction in Ado-Ekiti, the Oja Oba Market and other landmark projects initiated by his government.
Fayose said the presentation was more of a valedictory session because the 2018 budget would be his last as Ekiti State Governor. His tenure ends on October 15, 2018.
He, however, presented his deputy, Professor Kolapo Olusola before the lawmakers and the monarchs saying: “You should support him for the governorship in the spirit of continuity and sustainability of the government’s policies.”
Meanwhile, Yobe State Governor Ibrahim Gaidam yesterday presented N92.2 billion appropriation bill to the State House of Assemble for 2018 with an increase of 10 per cent over last year’s budget of N82.6 billion.
The budget tagged: “Budget of Consolidation and Socio- Economic Rejuvenation” was to meet the yearnings and aspirations of the people and concretize Government’s numerous efforts of uplifting their living conditions.
While addressing the Speaker of the State House of Assembly, Adamu Dala Dogo and other lawmakers, the governor said the budget is expected to be generated from internally generated revenue (IGR) of N4.5 billion, Value Added Tax (VAT) of N 8.9 billion, ecological fund of N2 billion, internal and external loans of N15.89 billion and debt relief of N7.7 billion.
He said the recurrent and capital expenditure stood at N47.45 billion and N44.73 billion, representing 51.5 per cent and 48.5 per cent.
“The Ministry of Works, Transport and Energy take the lion share of N17.53 billion to enable government complete the ongoing Damaturu Cargo International Airport, roads and other infrastructure projects across the 17 local councils of the state,” he stated.
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