Economy

EKSG Presents 2022 Budget Analysis …Says Budget Designed To Complete Airport, Other Critical Projects

By Web News 598

Ekiti State Government says it will prioritize the rehabilitation of the State Capital township road, completion of the ongoing airport and some other critical projects across the state in line with the five pillars of Fayemi led administration.

The State Commissioner for Budget and Economic Planning, Mr Olufemi Ajayi, stated this at s news Conference in Ado Ekiti while giving detailed analysis of the 2022 budget of ₦100.75B budget recently ascented to by Governor, Dr Kayode Fayemi.

The Budget, according to the Commissioner was designed for the completion of the new Governor and Deputy Governor’s lodge in Abuja, completion of one secretariat building, landscaping and fencing of State Secretariat complex in Ado Ekiti, procurement of vehicles and digitalization of personnel matters.

Others include land clearing for agricultural purposes, completion and rehabilitation of Ado-Iworoko-Ifaki dualisation road, Geographical information System, urban re-generation project, procurement of instructional materials, renovation and construction of public schools, renovation and equipping of secondary health facilities.

He further added that a sum of ₦11.6B has been budgeted for the construction of roads across the state in the new fiscal year.

To fund the budget, Mr Ajayi explained that a revenue of ₦32.6b was expected from the federation account, ₦17.5b from Value added tax, ₦14.2 to be raised from internally generated revenue, ₦13.5b from external grant, ₦6b from internal grant and ₦10b from capital development fund with an opening balance of ₦7.2b

The Commissioner assured that the present administration would leave no stone unturned in ensuring the full implementation of the 2022 budget through effective revenue mobilization strategy.

“This administration will continue in its effort in putting Ekiti State among the comity of States with high internally generated revenue. Some of the rapid private investment in agribusiness in Ekiit, some through PPP arrangement while some total direct local and foreign investment will start to yield revenue to the Government in a foreseeable future.

“The gain derived from the optimal use of Treasury Single Account will be sustained during the fiscal year 2022 with the blockage of any identifiable loopholes.

“The good relationship that exists between our international donor partners, local partners in a multilateral dimensions shall be sustained. Government shall continue to assist the internal revenue service to meet their monthly target.” He explained.

On his part, the Commissioner for Finance and Economic Development, Mr Akintunde Oyebode disclosed that the Fayemi’s administration had substantially reduced the State debt from an average of 16% per annum to an average of under 10% per annum through improvement of the state fiscal position and reduction of state cost of borrowing.

Mr Oyebode also said that the State Government had concluded plans to engage private stakeholders in the construction of the State’s ring roads.

Present at the budget breakdown were journalists, representatives of trade and professional unions as well as some stakeholders in Ekiti State.

Amos Ogunrinde

Politics

OGHA Passes 2022 Appropriation Bill into Law

By Web News 792

Ogun State House of Assembly, OGHA, has passed the 2022 budget proposal of 350.7 billion naira submitted to it by Governor Dapo Abiodun, barely a month ago.

The passage of the 2022 Appropriation Bill was sequel to the submission of the report of the Chairman, House Committee on Finance and Appropriation, Mr Kunle Sobukola and supported by the Whole House.

The Assembly in the course of the legislative process on the appropriation bill, carried out slight adjustments in the recurrent expenditures of about 144 agencies, just as the capital expenditures of 38 other agencies were equally adjusted. 

The adjustments led to a reduction in the total recurrent expenditure from the initial 172.9 billion naira to 153 billion naira resulting in a 19.8 billion naira decrease, while capital expenditure was increased from 177.7 billion naira to 197.5 billion naira giving an increment of 19.8 billion naira.

In a remark, the OGHA Speaker, Mr Olakunle Oluomo directed that the clean copy of the bill be transmitted to Governor Abiodun for his assent.

Mr Oluomo commended other lawmakers, for their unrelenting efforts towards promoting good governance through the passage of people-oriented legislation.

In another development, the Ogun State Board of Internal Revenue Law, 2021 has scaled first and second readings.

Oluwatoyin Adegoke 

News

Ekiti Assembly Passes 2022 Budget, As Gov Fayemi Assents To It

By Web News 558

Ekiti State House of Assembly has passed the 2022 budget proposal submitted to it by Governor Kayode Fayemi two months ago.

The Appropriation bill, christened Budget of Legacy and Consolidation has over 60 billion as recurrent expenditure while capital expenditure would gulp more than 40 billion.

The passage of the 2022 appropriation bill was sequel to the submission of the report of the chairman house committee on Finance and Appropriation, who is the lawmaker representing Emure constituency, Mrs Olubunmi Adelugba.

The lawmakers told the house that the budget was properly scrutinized by the committee with the invitation of officials of the Ministries, Departments and Agencies, MDAs to defend the budget allocated to their offices.

In his remarks, the speaker of the House, Mr Funminiyi Afuye thanked members of the committee for a job well done.

He advocated the full implementation of the budget to better the lots of the people of Ekiti state.

In the meantime, Governor Kayode Fayemi has assented to the 2022 appropriation bill of over one hundred billion nairas as Passed by the state House of Assembly

At a brief ceremony in Ado Ekiti, Governor Fayemi said that the budget christened “Budget of legacy and consolidation would enable his administration to execute people-oriented projects and complete the ongoing ones across the state.

He stressed that the budget was prepared with inputs from communities through their representatives to ensure that the needs of the people were captured.

The Governor was of the view that the budget would be actualized with improved internally generated revenue, allocation from the federation account and donors from the development partners

He said the budget would also give a strong financial base for the incoming administration to enable it to be able to cope with challenges ahead.

In a remark, the speaker of the Ekiti State House of assembly Mr Funminiyi Afuye said the lawmakers would carry out its oversight
function to ensure that the budget was fully implemented.

Amos Ogunrinde

News

Ondo House Of Assembly Passes Budget For Next Year

By Web News 509

The Ondo State House of Assembly has passed into law the 2022 Budget of over One Hundred and Ninety-Nine point Two Billion Naira.

The budget after scrutiny and defence by Ministries, Departments and Agencies, MDAs by the House Committee on Finance and Appropriation, headed by Mr Sunday Olajide had an increment of about Seven Billion Naira from initial over One Hundred and Ninety-One point Six Billion Naira submitted to the House by Governor Oluwarotimi Akeredolu.

The budget has a provision of over One Hundred and Twelve point Nine Billion Naira as Recurrent Expenditure and over Eighty-Five point Six Billion Naira as Capital Expenditure for the services of Ondo State of Nigeria for the year ending 31st December 2022.

The Lawmakers at the plenary presided over by the Speaker, Mr Bamidele Oleyelogun recommended among others things that MDAs should ensure that the provisions of the Budget are applied to the needs stated therein.

According to the House, in order to attain the target for the internally generated revenue for the year ahead, the State Government should take all necessary steps that will propel all income-generating MDAs to embark on more result-oriented internally generated revenue drive in line with extant Laws.

The Lawmakers urged the State Internally Revenue Service to identify all sources of Revenue leakages and ensure that measures are put in place to block all these leakages.

Olumide Abudu

Economy

Governor Abiodun To Present 2022 Budget Before House On Tuesday

By Web News 884

Governor Dapo Abiodun of Ogun state is expected to present the 2022 Appropriation Bill before the State House of Assembly on Tuesday, next week.
The budget presentation is In line with Section 121 of the 1999 Constitution of the Federal Republic of Nigeria, as amended .

The Deputy Clerk of the Assembly,  Mrs.Funmi Adeyemi, in a statement says the presentation of the 2022 Budget proposal, being the third since the inception of the present administration in the State will take place at the Assembly Complex Oke-Mosan, Abeokuta at 10.00 in the morning .

It adds that all invited stakeholders, guests and other Government functionaries are expected to be seated in line with COVID-19 protocols by 9.30 in the morning.

Oluwatoyin Adegoke 

Politics

Governor Fayemi Present 2022 Budget Proposal Before House Of Assembly

By Web News 543

In Ekiti State, over one hundred billion nairas is to be spent in the 2022 fiscal year.

The budget Proposal christened “budget of Legacy and Consolidation” was presented by the Governor of the state, Dr Kayode Fayemi before members of the Ekiti State House of Assembly during a plenary in Ado Ekiti.

The 2022 budget proposal which is five per cent lower than the 2021 budget was said to have been prepared based on the current economic realities.

In his analysis, the Ekiti State Governor Dr Kayode Fayemi said that over 36 billion nairas would be spent on Governance, infrastructure and industrial development,28 billion nairas,  Knowledge-Economy 19 billion nairas,  while social Investment got 14 billion nairas.

According to Governor Fayemi, recurrent expenditure stood at 60 billion nairas, while the capital got over 40 billion naira

He said that the budget had been tailored towards addressing economic challenges, boosting infrastructure, creating Job opportunities and meaningful growth that would bring sustainable peace to Ekiti.

Governor Fayemi maintained that his administration remained committed to the management of available resources by ensuring transparency, accountability and probity.

The governor listed some of the projects completed and inaugurated out of the 2012 budget to include, college of Agriculture, renovation of schools, reconstruction of roads, Egbe, Ero and  Ureje dams.

As part of measures to ensure a healthy society, the Ekiti State Governor explained that over two million indigenes would be vaccinated in 2022 to prevent the state from the third waves of the COVID-19 and other diseases to safeguard the health of citizens.

He maintained that the aims and objectives of the budget proposal would be adequately protected with a promise not to relax in the efforts to make Ekiti great.

In his acceptance speech, the speaker, Ekiti State House of Assembly,  Mr Funminiyi Afuye appreciated Governor Fayemi and other Executive members for the landmark achievements recorded in the state and expressed confidence that the 2022 budget would sustain the spate of Development in the state.

Mr Afuye however assured that the Assembly members would do justice to the appropriation bill in line with the current administration’s efforts to make meaningful change.

Oriola Afolabi

Politics

2022 Budget: Osun Assembly Plans To Resolve Pending Matters

By Web News 531

The year 2022 budget estimates have scaled through the first and second reading on the floor of the House of Assembly.

This follows a motion moved by Majority Leader, Mr. Maruf Olanrewaju, and seconded by Chairman House Committee on Finance and Appropriation, Mr. Adebayo Olodo respectively.

Reading the Policy thrust of the 2022 Appropriation Bill, the Majority leader, Mr. Maruf Olanrewaju commended the state Governor, Mr. Gboyega Oyetola for obeying the constitution by laying the 2022 budget draft on time.

He affirmed that the budget is for sustainable development as it cut across every sector that would enhance the state to grow and reduce poverty among people

In their contributions, some Lawmakers said the budget estimate capture the agriculture and education sector describing the budget as a developmental budget that calls for speedy passage.

In his remark, The Speaker, Mr. Timothy Owoeye said the House will not take the budget of Ministries, Departments and Agencies of government that has issue to resolve.

While directing the Ministry of Budget Planning to forward 35 copies of draft estimate of MDAs of government to the House of Assembly, the Speaker solicited the support of Ministries, Departments, and Agencies of government during the budget defense.

In another development, the House of Assembly hosted Ministries and Agencies of government to Audit Query reports by the Office of Auditor-General of the State

The Chairman, House Committee on Public Account, Mr. Gbenga Ogunkanmi said the exercise was to ensure accountability in budget spending and move the State from proposing to compliance.

The MDAs involved including Ministries of Education, Finance, Bureau of Public Services pension and Office of Tourism and Culture respectively.

Funmi Adekoya

Politics

Fiscal Strategy Paper Will Aid Proper 2022 Budget Planning – OSHA Speaker

By Web News 555

The Osun State House of Assembly, OSHA, has received the Economic and Fiscal Update, Fiscal Strategy Paper and Budget Policy Statement from the Governor, Mr. Gboyega Oyetola.

The Speaker, Mr. Timothy Owoeye during the Plenary, explained that the paper is a review of the last budget performance of the state.

He noted that the paper would provide information on budget process for year 2022 to year 2024.

While commending the lawmakers’ performance at the last budget retreat, the speaker urged his colleagues to make use of knowledge acquired during the retreat to prepare for the forthcoming year’s budget.

He said the fiscal paper was in compliance with Appropriation Law of 2012 which mandated the Ministry of Finance to do the midterm review of budget in the fiscal year.

Mr. Owoeye urged the lawmakers to study the paper and come up with the needful points to work on during the next deliberation.

He then committed the paper to the House Committee on Finance and Appropriation to give the House full report on the paper.

Funmi Adekoya

Transportation

Senate Committee Promises Upgrade Of Ibadan Airport To International Standard

By Web News 871

The senate committee on aviation has promised to advocate the upgrade of Ibadan airport to international standard.

Chairman Senate Committee on aviation, senator Smart Adeyemi said this during a courtesy call on Governor Makinde at the Agodi secretariat,Ibadan as part of the committee’s oversight function.

Senator Adeyemi said the visit, ahead of the 2022 budget presentation would equip the committee with useful information in advocating for sufficient funds for the aviation sector. 

Chairman House of Representatives Committee on Aviation, Mr Nnolim Nnaji who was part of the delegation also stressed the economic importance of upgrading the nation’s airport as an alternative to road transportation due to prevailing challenges of insecurity 

In a remark, Oyo state Governor, Engineer Seyi Makinde urged the federal government to handover Ibadan airport to the state government to enable the state expedite processes in upgrading the airport to international standard 

Governor Makinde explained various effort of his administration in giving the airport a facelift, especially with the rehabilitation of adjourning roads as well as provision of basic facilities in the airport and called on the federal government to do more by collaborating with the state.

He equally added that the airport would not only impact on the state economy by expanding its business district, the country would be better for it as it move from an economy dependent on oil to a non-oil economy.

The team later took an assessment tour of the Ibadan airport to evaluate areas of concerns.

Iyabo Adebisi