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Page 1 of 19
Text of the
2021 BUDGET SPEECH
Presented to the
Ekiti State House of Assembly
By
Dr. Kayode Fayemi, CON
Gover...
Page 2 of 19
before the House of Assembly, the 2021 Fiscal Estimates. This is the
third in my second term in office as the...
Page 3 of 19
8. Mr Speaker, it is not by happenstance that the present
Administration places high premium on transparency,...
Page 4 of 19
10. The proposed 2021 Budget stems from the 2021-2023 Medium
Term Expenditure Framework (MTEF) which empirica...
Page 5 of 19
13. On the Expenditure side, the sum of Seventy-One Billion, One
Hundred and Eighty-Six Million, Seven Hundre...
Page 6 of 19
Hundred and Twenty-Eight Million, Nine Hundred and Ninety-Six
Million, Four Hundred and Eighty-Two Thousand a...
Page 7 of 19
Administration. Some of the laudable projects completed in 2020
are:
i. The Civic Centre
ii. Ultra-Modern Mar...
Page 8 of 19
x. Installation of Molecular Laboratory at the Teaching
Hospital, Ado Ekiti.
xi. Renovation of House of Assem...
Page 9 of 19
OBJECTIVES OF THE 2021 BUDGET
21. The objectives of the 2021 Budget have been developed in line
with the five...
Page 10 of 19
iv. to eliminate poverty through strategic and well-
coordinated empowerment programmes and other social
inv...
Page 11 of 19
HIGHLIGHTS OF THE 2021 BUDGET
22. My administration is of the candid opinion that the annual
Budget should b...
Page 12 of 19
and Sustainability Programme (SFTAS) and Drawdown from our
Development Partners.
RECURRENT EXPENDITURE
24. I...
Page 13 of 19
empowerment programmes and social security schemes to improve
their standard of living and Job Creation.
CAP...
Page 14 of 19
30. A major focus of my administration in the year 2021 is
Agriculture and Food Security and Rural Developme...
Page 15 of 19
32. Furthermore, efforts are in top gear to collaborate with
Transition Company of Nigeria (TCN) to build 23...
Page 16 of 19
36. Social Investments: My administration is keen on providing the
numerous socio-economic needs of our peop...
Page 17 of 19
38. Security: We are all aware of the security challenge being faced in
the country. The recent EndSARS prot...
Page 18 of 19
vi. Gross Domestic Product Growth Rate of 3%
THE 2021 BUDGET HIGHLIGHTS
41. Mr Speaker, distinguished Ladies...
Page 19 of 19
44. Mr. Speaker Sir, Honourable Members, distinguished ladies and
gentlemen, the Budget proposal which I hav...
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Text of the 2021 BUDGET SPEECH Presented to the Ekiti State House of Assembly By Dr. Kayode Fayemi, CON Governor, Ekiti State, Nigeria Ekiti State House of Assembly, Ado-Ekiti, Ekiti State Tuesday, October 27, 2020

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Ladies and Gentlemen, I am delighted to be with you in this hallowed chamber on this special occasion of the presentation of the 2021 Budget proposal christened, “Budget of Recovery and Economic Restoration” to the Ekiti State House of Assembly.

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Text of the 2021 BUDGET SPEECH Presented to the Ekiti State House of Assembly By Dr. Kayode Fayemi, CON Governor, Ekiti State, Nigeria Ekiti State House of Assembly, Ado-Ekiti, Ekiti State Tuesday, October 27, 2020

  1. 1. Page 1 of 19 Text of the 2021 BUDGET SPEECH Presented to the Ekiti State House of Assembly By Dr. Kayode Fayemi, CON Governor, Ekiti State, Nigeria Ekiti State House of Assembly, Ado-Ekiti, Ekiti State Tuesday, October 27, 2020 Protocols 1. Ladies and Gentlemen, I am delighted to be with you in this hallowed chamber on this special occasion of the presentation of the 2021 Budget proposal christened, “Budget of Recovery and Economic Restoration” to the Ekiti State House of Assembly. 2. I consider it a great privilege, to stand before the distinguished members of the Ekiti State House of Assembly, again, to lay the 2021 Budget proposal in fulfilment of my constitutional obligation as the Governor under Section 121 (1) of the 1999 Constitution of the Federal Republic of Nigeria (As amended, 2011). 3. First, I appreciate God Almighty, the giver of life, for another opportunity to perform this Constitutional duty. I wish to register my profound gratitude to this Honourable House for the privilege to lay
  2. 2. Page 2 of 19 before the House of Assembly, the 2021 Fiscal Estimates. This is the third in my second term in office as the Governor of Ekiti State. 4. The Budget proposal being presented today is a product of public consultation through town hall meetings held across the three Senatorial districts on Monday, October 12, 2020. 5. Mr Speaker, permit me to acknowledge with profound gratitude, the symbiotic productive partnership between the Legislative and the Executive Arms of Government in Ekiti State, which has been cordially wonderful. 6. I also thank the good people of Ekiti State for the trust and confidence reposed in me to steer the ship of our dear State even at this perilous time. I appreciate your perseverance and continued support at all times. As a government, we remain unwavering in our commitment towards actualising our vision to improve Ekiti State and its people. 7. Distinguished Honourable members, it is expedient to commend your efforts for the approval given to the revised 2020 – 2022 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) and subsequently, the 2020 Revised Appropriation Bill in response to the outbreak of the novel Coronavirus. Your rare demonstration of patriotism in attending to the Fiscal Documents to promptly curtail the spread of the pandemic is highly commendable.
  3. 3. Page 3 of 19 8. Mr Speaker, it is not by happenstance that the present Administration places high premium on transparency, accountability, openness and probity in the management of little available resources. As a government, we are determined to strengthen good governance through fiscal responsibility. This is evident in the consistency of our fiscal policies with global best practices. The proposed 2021 Budget summarily defines the policy thrust and direction of governance in Ekiti State in the Year 2021. 9. The Draft 2021 Budget has been prepared amidst the global economic challenges occasioned by the Coronavirus pandemic. The pandemic, which practically brought the global economy on its knees, resulted in economic downturn, unprecedented fall in oil price which culminated in oil production cut, Naira devaluation, inflation, and low Gross Domestic Product (GDP). These unfavourable indices have been considered in the Parameters, Assumptions and Indicators (PAIs) used to prepare the Draft 2021 Budget. However, the document aligns with the Fiscal Sustainability Plan (FSP) of the Federal Government of Nigeria and the State Fiscal Transparency, Accountability and Sustainability (SFTAS) Program-for-Results (P- for-R) of the World Bank. The Document is also prepared in compliance with the globally recognized and accepted International Public Sector Accounting Standards (IPSAS), The Fiscal Responsibility Law, 2020 (As amended) and the Ekiti State Public Financial Management Law, 2020.
  4. 4. Page 4 of 19 10. The proposed 2021 Budget stems from the 2021-2023 Medium Term Expenditure Framework (MTEF) which empirically measures the reality of the significant macro-economic Parameters, Assumptions and Indicators (PAIs) as a prognosis for year 2021. REVIEW OF THE 2020 BUDGET 11. Mr. Speaker, Honourable members, Ladies and Gentlemen, let me review the performance of the 2020 Budget before I present the highlights of 2021 Draft Budget. The 2020 Budget christened “Budget of Deliverables” with a size of One Hundred and Twenty- Four Billion, Seven Hundred and Twenty-Four Million, Eight Hundred and Sixty-Nine Thousand, Three Hundred and Fifty-Five Naira and Ninety-Five Kobo (N124,724,869,355.95) only was presented to the Ekiti State House of Assembly on 7th November, 2019. The 2020 Appropriation Bill was signed into Law on 18th December, 2019. The 2020 Budget was prepared based on oil price benchmark of $50 per barrel and an exchange rate of N305 to a Dollar. 12. The sum of Seventy-Four Billion, Six Hundred and Nine Million, Seven Hundred and Fifty-Seven Thousand, Nine Hundred and Nine Naira and Twenty-Four kobo (N74,609,757,909.24) only was Appropriated as Recurrent Revenue and the sum of Fifty Billion, One Hundred and Fifteen Million, One Hundred and Eleven Thousand, Four Hundred and Forty-Six Naira and Seventy-One Kobo (N50,115,111,446.71) only as Capital Receipt.
  5. 5. Page 5 of 19 13. On the Expenditure side, the sum of Seventy-One Billion, One Hundred and Eighty-Six Million, Seven Hundred and Seventy-Five Thousand, Five Hundred and Forty-Nine Naira and Thirty-Six Kobo (N71,186,775,549.36) only was Appropriated as Recurrent Expenditure and the sum of Fifty-Three Billion, Five Hundred and Thirty-Eight Million, Ninety-Three Thousand, Eight Hundred and Six Naira and Fifty-Nine Kobo (N53,538,093,806.59K) as Capital Expenditure. 14. However, the outbreak of the novel Coronavirus (COVID-19), which dealt a debilitating blow on the global economy, threatened the implementation of the 2020 Budget. In the beginning of the second quarter of the 2020 fiscal year, the crude oil traded below $20. This unprecedented economic shock also led to the devaluation of the Nigerian Naira from N305 to a dollar to N360. This differential posed a great challenge to the 2020 Budget. 15. In our avowed commitment to bringing dividends of democracy to our people, our Government, despite the challenges posed by the pandemic, completed and commissioned many legacy projects in 2020, paid salary of our workers regularly and promptly, and still meet up with most of our social responsibilities geared at making life better for our people. 16. To stem the tide and rescue the ailing economy, the 2020 Budget was reviewed to reflect the economic realities as at then. The 2020 Budget was reviewed downward to Ninety-One Billion, One
  6. 6. Page 6 of 19 Hundred and Twenty-Eight Million, Nine Hundred and Ninety-Six Million, Four Hundred and Eighty-Two Thousand and One Kobo (N91,128,996,482.01) only. Permit me at this juncture to recognize and appreciate our Development Partners, most especially, the World Bank, the Africa Development Bank, Bill and Melinda Gates Foundation, the Nigeria Governors’ Forum (NGF) which I chair and the Development Agenda for Western Nigeria (DAWN) Commission for the technical support towards the preparation of COVID-19 Responsive 2020 Supplementary Budget. 17. The 2020 Recurrent Revenue was reviewed to Fifty-Four Billion, Three Hundred and Sixty-Three Million, Nine Hundred and Fifty- Eight Thousand, Seven Hundred and Sixty-Three Naira (N54,363,958,763.00) only while Capital Receipt was Thirty-Six Billion, Seven Hundred and Sixty-Five Million, Thirty-Seven Thousand, Seven Hundred and Nineteen Naira and One Kobo (N36,765,037,719.01) only. ACHIEVEMENTS OF THE 2020 BUDGET 18. It is imperative to highlight some notable achievements of this administration in spite of the numerous challenges that we faced as a Government in 2020. Notwithstanding the meagre resources at our disposal and the effects of the pandemic, we delivered substantially on some of our mandates by implementing some legacy programmes and projects across the State in line with the five (5) Pillars of our
  7. 7. Page 7 of 19 Administration. Some of the laudable projects completed in 2020 are: i. The Civic Centre ii. Ultra-Modern Market in Ado Ekiti. iii. Water Corporation Headquarters, Ado Ekiti iv. Rehabilitation of Ero Dam v. Rehabilitation of Egbe Dam vi. Ikun Dairy Farm resuscitated through PPP arrangement with Promasidor Nigeria Limited (Producer of Cowbell Milk) vii. Completion of Two Secretariat Buildings (commissioned) viii. Completion of four new Model Secondary Schools in Ado Ekiti namely: Ayo-Fasanmi Model College, Ilokun- Iworoko Road, Ado-Ekiti, Banji Akintoye Model College, Ijan Road, Ado-Ekiti, and David Oke Model College, Ikere Road, Ado-Ekiti and Deji Fasuan Model College, while several other schools were constructed or renovated through SUBEB. ix. Renovation of Hospital Buildings at the Ekiti State University Teaching Hospital, (EKSUTH) Ado Ekiti.
  8. 8. Page 8 of 19 x. Installation of Molecular Laboratory at the Teaching Hospital, Ado Ekiti. xi. Renovation of House of Assembly Complex xii. About fifty (50) EKCSDA projects completed and commissioned. xiii. Recruitment of Teachers, Doctors and Civil Servants. 2021 BUDGET IN FOCUS. 19. Rt. Hon. Speaker, distinguished Honourable Members, Ladies and Gentlemen, the 2021 Budget is aimed at speedy economy recovery and restoration from the debilitating effects of the Coronavirus. Based on global forecast, it is envisaged that the impact of the pandemic would span for a period of two to three years. The 2021 Budget, therefore, is designed to lift our people out of poverty. It shall focus on empowerment and social security. Consequently, the Budget, has been christened Budget of Recovery and Economic Restoration. 20. To mitigate the effect of the pandemic on our economy in the year 2021, we have developed a 2021 Draft Budget to restore the ailing economy to a buoyant state through strategic investments in critical Sectors of the State. The Draft 2021 Budget is a Zero-Based Budget, which shall be activities based. It has articulated the collective needs of the State within the ambit of the projected revenue sources.
  9. 9. Page 9 of 19 OBJECTIVES OF THE 2021 BUDGET 21. The objectives of the 2021 Budget have been developed in line with the five (5) Pillars of our administration namely: Agriculture and Rural Development, Infrastructure and Industrial Development, Social Investments, Knowledge Economy and Governance. The objectives therefore include: i. to establish a fiscal framework consistent with government Fiscal Policy, extant rules such as the Ekiti Public Finance Management Law, 2020, Fiscal Responsibility Law, 2020, Public Procurement Law, 2020 among others for effective implementation of the proposed 2021 Budget; ii. to maintain and increase the vibrant platform for the development of Agriculture and Small and Medium Scale Enterprises (SMSEs) in the State towards rapid job creation; to ensure speedy completion of all the on-going developmental projects through equitable and prudent distribution and allocation of the available resources; iii. to further explore all revenue sources, expand tax base, to continue to use Treasury Single Account (TSA) with a view to improving and widening the revenue generation drive of the State hence, reducing the dependence on Federal Allocation;
  10. 10. Page 10 of 19 iv. to eliminate poverty through strategic and well- coordinated empowerment programmes and other social investment programmes; v. to contain the spread of COVID-19 pandemic and cushion its effects on the social and economic activities in the State; vi. to continue to improve the ease-of-doing business by creating an enabling environment for socio-economic activities in the State to build the thrust and attract more domestic and foreign Investors; vii. to facilitate programmes tailored towards widening Human Capital Development and capacity building in the State through strategic investments in qualitative education businesses, and healthcare delivery system and Agribusiness; viii. to promote good governance through E-Govt Initiative, Budget discipline, probity and accountability in the allocation and utilization of public funds; ix. and to increase the Gross Domestic Product (GDP) of the State.
  11. 11. Page 11 of 19 HIGHLIGHTS OF THE 2021 BUDGET 22. My administration is of the candid opinion that the annual Budget should be realistic with minimal variance. Consequently, considering the identified and identifiable sources of revenue, the 2021 Budget document will channel the roadmap for Government business in the year 2021. It is in this regard that we have proposed a Budget size of One Hundred and Nine Billion, Six Hundred and Sixty- Six Million, Three Hundred and Seventy-Six Thousand, Seven Hundred and Twenty-Two Naira, Sixty-One kobo. (N109,666,376,722:61) only for the 2021 fiscal year. This represents a 20% increase when compared to 2020 Supplementary Budget which had a size of N91,128,996,482.01 only. This Budget of Recovery and Economic Restoration is in accordance with the five (5) Pillars of my Administration and the classification is as follows: Agriculture & Rural Development - N7,920,439,216.75 (7%) Infrastructure & Industrial Development - N25,217,177,807.67 (23%) Knowledge Economy - N21,931,894,938.68 (20%) Social Investments - N25,274,622,256.29 (23%) Governance - N29,322,242,503.22 (27%) REVENUE PROJECTIONS 23. The major sources of revenue for the proposed 2021 Budget are Federal Allocation, the Value Added Tax, Internally Generated Revenue, Revenues/Grants from the State Fiscal Transparency, Accountability
  12. 12. Page 12 of 19 and Sustainability Programme (SFTAS) and Drawdown from our Development Partners. RECURRENT EXPENDITURE 24. In the proposed 2021 Budget, the sum of Fifty-Seven Billion, Nine Hundred and Ninety-Seven Million, Nine Hundred and Eighty-Nine Thousand, Nine Hundred and Eighty-Two Naira, Sixty-Two Kobo (N57,997,989,982.62) has been earmarked for Recurrent Expenditure of Government. This represents 53% of the total Budget. The Recurrent Revenue will be expended on Personnel Cost, Overhead Cost, Grants to Parastatals and Consolidated Revenue Fund Charges. 25. Mr. Speaker, this Administration places high premium on the welfare of its workers. We have kept faith with our electioneering promise of prompt payment of Salaries. We are also committed to clearing backlogs of outstanding salaries and other emoluments. We commenced the implementation of the new minimum wage to officers on Grade Levels 01-07 in 2020. While we were on the verge of concluding negotiation to commence the full implementation of the Consequential Adjustment of the new Minimum Wage for other Officers on Grade Level 08 and above, the sudden outbreak of the pandemic halted the process. Provision has been made in the 2021 Budget to implement the new minimum wage. 26. Aside the cost of running the day to day business of Ministries, Departments and Agencies (MDAs), my administration has made provisions for our people in the areas of security, sensitization and
  13. 13. Page 13 of 19 empowerment programmes and social security schemes to improve their standard of living and Job Creation. CAPITAL EXPENDITURE 27. Mr. Speaker, Honourable Members of the House of Assembly and my highly esteemed people, we are all aware that the livewire of any economy lies in its drive to implement valuable developmental projects which will attract Investors thus improving the Gross Domestic Product (GDP) with the overall goal of improving the aggregate standard of living. 28. The five (5) Pillars of my administration have remained hinged on this ethos. This also explains the successes we have recorded so far with the implementation of several capital projects across the State. Let me categorically state that we shall not rest on these laurels as our aspiration has been rejuvenated to do more. We shall not be deterred to bring smile to the faces of our people. 29. The completion of all on-going projects as well as the commencement of new essential ones shall be vigorously pursued. It is in this regard that we are proposing an amount of Fifty-One Billion, Six Hundred and Six-Eight Million, Three Hundred and Eighty-Six Thousand, Seven Hundred and Thirty-Nine Naira, Ninety-Nine Kobo (N51,668,386,739.99) as Capital Expenditure in the Draft 2021Budget. This represents 47% of the entire 2021 Budget.
  14. 14. Page 14 of 19 30. A major focus of my administration in the year 2021 is Agriculture and Food Security and Rural Development. This Government has signed Memorandum of Understanding (MoU) with different Investors in Agribusiness to transform the sector. To further enhance productivity and service delivery, the defunct Ministry of Agriculture and Rural Development has been bifurcated into the Ministry of Agriculture and Food Security and the Bureau of Rural and Community Development. To ensure food security, this administration, in 2020, embarked on massive land clearing for our Agribusiness. Our Rural Access Agriculture Marketing Projects, a collaborative project, shall embark on the construction/grading of our rural and feeder roads in 2021. 1000 kilometres of our rural access roads shall be constructed to enhance the distribution of farm produce to the various markets. 31. On Infrastructuree development, Distinguished Ladies and Gentlemen, adequate provisions have been made in the 2021 proposed Budget to consolidate on our efforts on the provision of the basic infrastructure to improve their aesthetic and economic values. We have prioritized the completion of the Ado-Iyin Road construction as well as the on-going construction/rehabilitation of the four major roads across the three Senatorial Districts of the State namely: Agbado-Ode-Omuo Road, Ilupeju-Ire-Igbemo Road, Aramoko-Erijiyan-Ikogosi Road and Oye-Ayede-Iye-Otun Road and other critical inter township roads for security reasons and also agricultural chain. To boost economic activities of the State, work shall continue on the construction of our Cargo Airport project in 2021 and commence on the first phase of the Ring Road around the capital.
  15. 15. Page 15 of 19 32. Furthermore, efforts are in top gear to collaborate with Transition Company of Nigeria (TCN) to build 233KVA in Ekiti State in 2021. My Government, in collaboration with our Development Partners, will also embark on Independent Power Project in 2021. To ensure wider coverage and better transmission in our hilly hinterlands, such as Efon Alaaye, Okemesi, among others, Booster Station shall be built for our Radio and Television Stations. 33. To curtail the impact of ecological degradation such as erosion and water shedding issues, adequate provisions have been made for channelization and other ecological projects under the Nigerian Erosion and Watershed Management Project (NEWMAP) in the 2021 proposed Budget. 34. Mr. Speaker, it is of general knowledge that our dear State is greatly endowed with human capital resources, Consequently, under our Knowledge Economy, the Knowledge Zone shall take off in 2021. Since it is a collaborative project with the Federal Government of Nigeria, we shall provide all necessary enabling environment for the project. In this regard, we are already collaborating with the Nigerian Export Processing Zone Authority. 35. I wish to state categorically, that the development of our educational facility is of great desire. However, we shall continue with the renovation as well as the construction of befitting learning facilities for our wards. We shall also be supporting the State owned Tertiary Institutions with funds to carry out developmental capital projects.
  16. 16. Page 16 of 19 36. Social Investments: My administration is keen on providing the numerous socio-economic needs of our people. We have prioritized our collective needs on healthcare services, social and gender empowerments, sports and youth development and social security schemes in the proposed 2021 Budget. We shall continue with the Ounje Arugbo and Owo Arugbo programmes for our elders in the State. Of great interest is the State COVID-19 Action Recovery and Economic Stimulus (State CARES) programmes which has been captured succinctly in the 2021 proposed Budget to cushion the effects of Coronavirus on our people and lift them out of poverty. This programme cuts across all sectors of the economy, Social Transfer, Agricultural and Food Security and Small and Medium Enterprise (SME) Recovery. Adequate provisions have been made for the renovation, maintenance and equipping of Primary and Secondary Health Facilities. Furthermore, in order to combat unforeseen outbreak of diseases in the State, substantial emergency vote has been included in this fiscal document to address this issue in the State. It is also our priority to renovate/equip at least, one Comprehensive Health Centre in each of the 177 wards of Ekiti State. 37. On Governance, our administration shall continue to accord priority to participatory and all-inclusive governance in 2021. Activities of Open Government Partnership shall begin fully in 2021. The Ministry of Budget and Economic Planning also launched a public Budgeting App to track and monitor Budgeting Process.
  17. 17. Page 17 of 19 38. Security: We are all aware of the security challenge being faced in the country. The recent EndSARS protest of our youths which was hijacked by hoodlums is an eye opener. We have made provision for Safe City Project in the 2021 Budget. Also, the Regional Security Network “Amotekun” shall be fully operational in 2021. 39. In furtherance of our objective to give our Royal Fathers the well- deserved honour and improve on their welfare, our Government commenced renovation of palaces in Ekiti State. We shall ensure the completion of the renovation of the palaces before the end of our administration. KEY ASSUMPTIONS OF THE 2021 BUDGET OF ECONOMIC RESTORATION 40. The 2021 Budget is critical in the sense that it is the first Budget after the pandemic. The Assumptions have been carefully forecast and projected to make the Budget realistic. These assumptions are predicated on the 2021-2023 Medium Term Expenditure Framework (MTEF) as follows: i. Crude Oil Benchmark of US $38 per barrel ii. Oil Production estimate of 1.65 Million barrel per day iii. Exchange Rate of N379/US Dollar iv. Inflation rate of 11.98% v. Mineral Ratio of 30%
  18. 18. Page 18 of 19 vi. Gross Domestic Product Growth Rate of 3% THE 2021 BUDGET HIGHLIGHTS 41. Mr Speaker, distinguished Ladies and Gentlemen, for the 2021 fiscal year, the Government of Ekiti State is proposing a total Budget size of One Hundred and Nine Billion, Six Hundred and Sixty-Six Million, Three Hundred and Seventy-Six Thousand, Seven Hundred and Twenty-Two Naira, Sixty-One kobo. (N109,666,376,722:61) only to cater for both Recurrent and Capital Expenditure. 42. Mr Speaker, distinguished Ladies and Gentlemen, for the 2021 fiscal year, the Government of Ekiti State is proposing a total Budget size of One Hundred and Nine Billion, Six Hundred and Sixty-Six Million, Three Hundred and Seventy-Six Thousand, Seven Hundred and Twenty-Two Naira, Sixty-One kobo. (N109,666,376,722:61) only to cater for both Recurrent and Capital Expenditure. 43. The Capital Expenditure is Fifty-One Billion, Six Hundred and Six- Eight Million, Three Hundred and Eighty-Six Thousand, Seven Hundred and Thirty-Nine Naira, Ninety-Nine Kobo (N51,668,386,739.99) representing 47% of the Budget Estimate while the total Recurrent Expenditure is Fifty-Seven Billion, Nine Hundred and Ninety-Seven Million, Nine Hundred and Eighty-Nine Thousand, Nine Hundred and Eighty-Two Naira, Sixty-Two Kobo (N57,997,989,982.62) representing 53%. CONCLUSION
  19. 19. Page 19 of 19 44. Mr. Speaker Sir, Honourable Members, distinguished ladies and gentlemen, the Budget proposal which I have just presented contains the policy thrust, programmes and vision of the administration for 2021. Efforts shall be made to source the needed resources to fund the Budget. 45. I urge the Honourable House to give thorough and timely consideration to the passage of the Revenue and Expenditure Estimates to enhance earnest implementation. The Honourable Commissioner for Budget and Economic Planning shall give detailed analysis of the Budget after passage into law. 46. It is therefore, with great pleasure and deep sense of responsibility that I lay before this Honourable Assembly, the 2021 Budget estimate of Ekiti State, which has been christened Budget of Recovery and Economic Restoration. 47. God Bless Ekiti State, God bless Nigeria. 48. Alale Ekiti a gbe a o! Dr. Kayode Fayemi, CON Governor

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