Fayose Signs N98.6bn Budget Into Law
Governor of Ekiti State, Ayodele Fayose, on Friday signed the N98.6 billion budget for 2018 into law, at the Government House in Ado Ekiti.
Signing the budget the governor commended the assembly for ensuring its early passage.
Fayose said, “The recurrent to capital ratio is 67:33 as against 42:58 in the 2017 fiscal year.
”This was in consonance with the Fiscal Responsibility Plan which is globally acceptable.
“We have chosen to be sincere and be realistic with our people instead of having a bogus budget that is unrealisable.’’
He added that the budget would be financed through federal allocation (33 per cent), internally generated revenue (11 per cent), Value Added Tax (11 per cent), Education Intervention Fund (4 per cent) and sundry incomes (12 per cent).