Still on the Ekiti State Budget Performance for Q1; it’s interesting to see that N16m was realized from Cocoa Grading Fees, representing 33.8% of the budgeted N47.5m. On the expenditure side, N374.3m was spent on payment of students’ WAEC and NECO— 63.7% of the budgeted N588m. Also, N1.7bn was paid in pension, representing a 29.9% performance of the budgeted N6bn.
Looking at specific lines from the Capital Expenditure, the construction of the airport has N2bn, which is a 50% performance of the budgeted N4bn.
Rehabilitation of hospital/health centers has taken N135m, which is a 50.2% performance of the budgeted N270m. The rehabilitation of public schools has also taken N181m, which is 10% performance of the budgeted N1.7bn.
Rehabilitation of roads has N1bn already, representing a 22.7% performance of the budgeted N4.7bn. Additionally, N1.5bn intervention funds for special projects, representing 36% of the budgeted N4.2bn.
One thing that’s never in doubt is Governor Biodun Oyebanji's commitment to transparency, with his dedication to the development of Ekiti State.
The Budget Performance Report for the first quarter of 2023 has been published by @ekitistategov. In terms of revenue performance, N16.9bn was generated from FAAC & VAT share, which represents 26.3% of the projected N64.5bn.
Additionally, N5.07bn was realized from Internally Generated Revenue (IGR), representing 32.1% performance of the projected N15.8bn. For the Capital Development Fund (CDF) Receipts, N3.03bn was realized, translating to 55.1% of the projected N5.5bn.
Regarding recurrent expenditure, N6.6bn was spent on Personnel Costs, which is 21.8% of the budgeted N30.3bn. Also, N16.4bn has gone to Other Recurrent Costs, which represents 33.4% of the estimated N49.1bn.
On Capital Expenditure Performance, N5.6bn has been spent, representing 15.7% of the budgeted N34bn. Overall, the revenue performance was 34%, while expenditure stood at 25.3%.
It’s important to note that both revenue and expenditure performances meet the 25% threshold for Q1.
I also learned from the Budget Ministry that the Ekiti State government was recently commended by the NGF for “budget realism.”
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