By Olamide Akinwumi J.
Governor Biodun Oyebanji of Ekiti State, on Wednesday, December 27, 2023, took a significant step towards the state's future development by signing into law the 2024 Budget at the EXCO Chamber, Governor’s Office, Ado-Ekiti. The ceremony followed the recent passage of the Appropriation bill by the state House of Assembly.
The budget, with an estimate of N159,572,482,915.61 Billion Naira, has been aptly named the "Budget of Sustainable Growth and Development." Governor Oyebanji, in his commitment to the economic prosperity of the state, promised to ensure the full implementation of the budget to the letter.
The 2024 budget adopts Zero-Based Budgeting (ZBB) principles, comprising N71,994,898,233.20 for capital expenditure and N87,577,583,682.41 for recurrent expenditure, maintaining a ratio of 55:45 of recurrent to capital expenditure. Governor Oyebanji emphasized that the budget's formulation was a result of extensive consultations with the people of Ekiti.
At the signing ceremony, attended by key dignitaries including the Deputy Governor, Chief (Mrs) Monisade Afuye, Speaker of the House, Rt Hon Adeoye Aribasoye, members of the Ekiti State House of Assembly, and the state executive council, Governor Oyebanji highlighted the importance of the budget in driving sustainable growth and development in Ekiti State.
The governor expressed gratitude to the legislative and executive arms of government for their collaboration in ensuring the timely passage of the budget. He assured the people of Ekiti that the budget would be diligently executed to achieve the set objectives, addressing the needs and aspirations of the citizens.
The "Budget of Sustainable Growth and Development" reflects the administration's strategic vision for advancing key sectors and addressing the challenges faced by the people. As Ekiti State looks forward to the implementation of this budget in the coming fiscal year, Governor Oyebanji's commitment underscores the administration's dedication to fostering a prosperous and thriving state.
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