Ekiti - Gov. Kayode Fayemi of Ekiti on Thursday presented N93.6 billion budget to the State House of Assembly for 2013 fiscal year.
Christened ``Budget of Empowerment and Consolidation’’, the budget has N47.2 billion for capital and N46.4 billion for recurrent expenditure.
Fayemi said that the budget would be financed through ``certain verified sources”, adding that N31.4 billion was being expected as statutory monthly allocation from the Federation account.
According to him, the amount represents 36.6 per cent of the total revenue projection.
He said the state would net N7.3 billion from VAT, N8 billion from miscellaneous sources, N14.3 billion from internally-generated revenue and N4.6 billion from external grants.
The others are MDG’s conditional grant, N1.1billion, Internal Loan (Bond), N7.6 billion and ecological fund, N525 million.
The governor said that N5 billion represents the special grant from Federal Government in form of refund for Federal roads being rehabilitated by the State Government.
He expressed optimism that the budget would be prosecuted as planned in spite of projected its N8.3billion for personnel cost and N7 billion for payment of pension and gratuity.
Fayemi described the budget as a product of contributions from various communities in the state that emerged from his recent tour of all the 16 Local Governments.
He added that the budget had been deliberately designed to target the needs of the people of the state, especially the rural populace.
``This budget is planned to make poverty a history in our dear state because we sought the views of our people, irrespective of class, before coming up with it to reflect their actual needs,” he said.
The governor pledged to create a full-fledged Ministry of Poverty Alleviation to effectively coordinate all strategies that would ultimately lead to the alleviation of poverty in the state.
The thrusts of the budget include empowering rural communities, massive provision of rural roads, rural electricity and improving the quality of education.
``We will also make Ekiti a destination of choice for investors, through aggressive pursuit of our tourism agenda, food security, probity and budget discipline.’’
In his address, the Speaker of the assembly, Adewale Omirin, promised that the house would give the Appropriation Bill an accelerated attention.