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West Africa

Ekiti Government reduces 2020 budget from N124.5bn to N91.128bn

He said that Gov. Kayode Fayemi had approved a draft Supplementary for the downward review of the 2020 budget from N124. 5 billion to N91.128 billion in view of the general fall in crude oil prices at the international market.

According to him, the decline in the global oil prices has also caused a drastic fall in revenue accrued to Ekiti from the Federation Account, which brings the reduction of the initial budgetary status by N33 billion.

In the draft supplementary budget, Olumilua said the Personnel costs would remain at 100 per cent, reduction in overheads by 50 per cent and grants to parastatals by 20 per cent.

” The Supplementary Budget proposes an estimate of N91, 128,996,482.01, which is made up of Recurrent Expenditure of N56, 557,958,763.00 and capital expenditure of N34, 571,037,719.01.

The council also approved a memorandum on the N2.5 billion credit support facility for the Medical Sector in Ekiti State, to be accessed via the Central Bank of Nigeria’s Credit Support Intervention for Health Care sector.

“Out of the N2.5 billion, N2 billion will be expended on financing the State’s Health Care facilities and acquisition of medical equipment, while N500 million is for the purchase of medical consumables, drugs and other expenditure of the state medical facilities.

” The government also approved N281.9 million for the procurement of laboratory equipment for the Ekiti State College of Agriculture and Technology, Isan-Ekiti, Ekiti State,” he said.

Meanwhile, the state government has ratified the nominations of two Oba-elects and suspended four Kingmakers.

Olumilua said that the state approved the appointment of Prince Iluku Ojo Oluwadamilare Omobire, as the new Olomu of Ilomu Ekiti.

He said it also approved Prince Adekunle Adeagbo of the Adifagbade ruling house, as the new Oore of Otun-Ekiti in Irepodun/Ifelodun and Moba local government areas respectively.

However, he said the government ordered the suspension of four Kingmakers, and the appointment of seven Warrant Chiefs, to perform the role of Kingmakers in the process of filling the vacant stool of the Onimesi of Imesi-Ekiti, in Gboyin Local Government Area.

“This was based on the refusal of the Kingmakers in Imesi Ekiti, to act on the list submitted to them by the Agunsoye Ruling House, thereby stalling the process of filling the stool, which had become vacant since 2018.

Olumilua said the Council also approved the operation of an Independent Power Plant (IPP) to reduce costs being incurred by the government by N276 million yearly.

He said the IPP would ensure 24-hour power supply to Ekiti State Government House, Governor’s Office, State Secretariat, Ekiti State Specialist Hospital, Ekiti State University and to power the street lights in the state capital.

The Commissioner said the power plant was expected to take-off by January 2021.

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