From News Editor
The Ekiti State Governor, Biodun Abayomi Oyebanji will on Monday signed the 2025 appropriation bill following the passage of the bill into law by the House of Assembly.
The Budget estimates tagged “Budget of Sustainable Impact” was presented by the Governor on Tuesday 29th October, 2024.
The Speaker of the Ekiti State House of Assembly, Adeoye Aribasoye in his address, commended the Governor for presenting what he described as an encompassing appropriation bill which he said, would take care of the yearnings of Ekiti residents at this period of economic hardship in the country.
Aribasoye equally thanked the members of the Seventh Assembly for doing a thorough job on the estimate through their interface and feedback mechanism from the policy executors notably Ministries, Departments and Agencies expressing his delight for the job done by the committee on Finance and Appropriation chaired by the lawmaker representing Gbonyin/Ayekiire Constituency Adeteju Okuyiga for scrutinizing the reports of sub-other committees of the House on the budget defense.
The Speaker, who doubles as Chairman Finance and Supplies reiterated the processes adopted by the committee on Finance and Appropriation through public hearing which enabled the major stakeholders to make their impact and contributions known to ensure that the appropriation bill is achievable in the coming year.
According to the speaker, the Appropriation Bill would take effect from 1st January, 2025 and run till 31st Dec, 2025 to be cited as 2025.
He noted that the 2025 Appropriation law would be financed through Opening Balance (Transfer from prior Fiscal year) Statutory Allocation (FAAC), Value Added Tax(VAT) Independent Revenue and Capital receipts.
Aribasoye then announced the passage into law of the Appropriation Bill of Three Hundred and Seventy Five Billion, Seven Hundred and Ninety Million, Seventy Seven Thousand, Six Hundred and Eighteen naira, fifteen kobo ( #375,790,077,618.15) comparing to year 2023 budget of One Hundred and Fifty Nine Billion, Five Hundred and Seventy Two Million, Four Hundred and Eight – One Thousand, Nine Hundred and Fifteen Naira, Sixty One Kobo (#159,572,481,915,61k) which is a triple of the outgoing year budget.
