Fayemi signs N88.8bn budget into law

Governor Kayode Fayemi of Ekiti State has signed the 2012 appropriation bill of N88,828,351,795.25 into law.

The budget assented to by Governor Fayemi at the weekend was the exact amount re-presented by him to the State House of Assembly, after he had earlier presented a budget of N98,992, 811,073.50.

While signing the budget, Governor Fayemi observed that the previous estimate was “an ambitious budget that entrenches the thrust of the eight-point agenda,” adding that it “was flawed in that there was a lopsided support for capital projects rather than recurrent expenditure and that it could not meet the needs of workers.”

Fayemi said the review was made in view of the economic challenges and the commitment of his administration not to make the budget a paper thing, but a realistic framework for the rapid development of the state, in line with his promise to the people.

The governor said his administration was on a threshold of history and would not renege on the promise that it had made to the people of the state, adding that he was aware that all eyes were on his administration and he would not leave any stone unturned to ensure effective implementation of the budget.

Fayemi commended the state assembly not only for the timely passage of the budget, but for also putting in place a tracking system for its proper implementation, adding that this would save the executive arm of the government from implementation problems.