COVID-19 Pandemic: Ekiti Government Slashes 2020 Budget

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COVID-19 Pandemic: Ekiti Government Slashes 2020 Budget


Ekiti State Government has announced a reduction in 2020 budget from N124.5 billion to N91.128 billion due to the coronavirus pandemic.

The state Commissioner for Information and Values Orientation, Mr Muyiwa Olumilua, disclosed this in a statement in Ado Ekiti on Saturday.

Olumilua further said the government took the decisions at its virtual State executive meeting in Ado Ekiti, late Friday.

According to him, the crash in the global oil prices has also caused reduction in revenue accrued to Ekiti from the Federation Account, hence the reduction of the initial budgetary status by N33 billion.

Statement reads;

“The Supplementary Budget proposes an estimate of N91,128,996,482.01, which is made up of Recurrent Expenditure of N56, 557,958,763.00, and capital expenditure of N34, 571,037,719.01.

“The council also approved a memorandum on the N2.5 billion credit support facility for the medical sector in Ekiti, to be accessed via the Central Bank of Nigeria’s Credit Support Intervention for Health Care sector.

“Out of the N2.5 billion, N2 billion will be expended on financing the State’s Health Care facilities and acquisition of medical equipment, while N500 million is for the purchase of medical consumables, drugs and other expenditure of the state medical facilities.

“The government also approved N281.9 million for the procurement of laboratory equipment for the Ekiti State College of Agriculture and Technology, Isan-Ekiti, Ekiti State."

Olumilua said the council also approved the operation of an Independent Power Plant expected to take off by January 2021 to reduce costs being incurred by the government by N276 million yearly.

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