Oyebanji Presents N113bn 2023 Budget To Ekiti Assembly

Biodun Oyebanji , Ekiti State governor has presented a little over N113 billion as the 2023 appropriation bill to the state House of Assembly for passage.

Oyebanji who tagged the appropriation bill as a ‘ Budget of Strong Beginning ‘ said the proposal was prepared to address the challenges confronting the state in line with his six-point campaign promises and agenda for the people.

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Addressing the lawmakers on Thursday, the governor explained that in order to tackle the infrastructure deficit and guarantee the industrialisation of the state, a sum of N15.7 billion has been earmarked for the sector representing 46.2 per cent of the appropriation bill.

He added that the recurrent expenditure will gulp N 80.3 billion while N 34 billion will be expended for capital projects in the 2023 budget year and that the state’s debt would be serviced with N305 million.

On the macroeconomics predictions used in presenting the budget, the governor stated that crude oil price per barrel was put at $70, an exchange rate of $435 to a naira and a 17.5 per cent inflation rate.

As part of measures to reduce the overhead cost and the recurrent expenditures, Oyebanji announced a ban on sponsorship of conferences, training and workshops by ministries, departments and agencies of government in the state.

“I have observed with concern, the huge cost of administration in our overhead cost. While it is a necessity that the engine of government must be oiled through overhead expenditure, the time demands that we bring the cost of administration to the barest minimum. I have therefore directed that MDAs should desist from sponsoring conferences, workshops and training that add little or no value to the development of the State,” he said.

According to him, “Our goal is to safeguard our people’s lives, livelihoods, well-being and future. It is to create shared prosperity for all and to grow the economy, equip our people with valuable skills, create jobs, and expand the range of opportunities available for everyone. It is to create a conducive environment for investors to thrive in our economy, and to make Ekiti State the preferred destination to live, work, and invest.

“It is no longer news that many economies around the world are contending with fiscal instability and economic challenges. Since Ekiti State’s economy is not isolated from the national and global economy, the ripple effect of the economic downturn is palpable in our State. The 2023 proposed Budget is, therefore designed to address these challenges and position Ekiti State on a solid foot.

“Distinguished parliamentarians, it is instructive to note that the 2023 Budget preparation process was conducted with respect to our avowed principle of inclusive participation. I undertook Citizens’ Engagement across the three senatorial districts to collate and articulate the needs of our towns and communities for consideration in the 2023 Budget. Many of the inputs obtained during the engagements have been incorporated into this proposal in fulfilment of our bottom-up approach to government policy formulation and implementation.”

On the infrastructure especially road construction in 2023, Oyebanji said, ” As an administration, we are irrevocably committed to the infrastructural development of dear State. We are of the firm conviction that infrastructure is a catalyst for socioeconomic development. To this end, the State Government will pay more attention to infrastructural development in 2023.

“There shall be an increased allocation of resources to the critical areas of infrastructure such as Water Supply, Electricity, Housing, improved Road Network and provision of other infrastructural facilities across the Sixteen LGAs in the State.

“Some of the projects to be executed are Ado Township road, Construction of Atlas -Ajebamidele-Deeper Life -Alasia – Shepherd- Omisanjana road, Ikere – Ilawe road, Itapa – Omu- Ijelu etc roads

Completion of phase II of New Iyin road Rehabilitation of Igede – Ilawe – Road, and other intercity roads.”

Speaking, the deputy speaker, Hakeem Jamiu while welcoming Oyebanji to the chamber as the governor, promised that the House through its various committees would, “work expeditiously on the budget estimate with a view to passing it in a record time.”

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