Ekiti to spend N600m on power project
In a bid to boost electricity supply, Ekiti State Government is planning to spend N600 million on power interventions in 2024.
Tthe Commissioner for Budget and Economic Planning, Niyi Adebayo stated this in Ado-Ekiti while presenting highlights and breakdown of the N159.5bn budget tagged “Budget of Sustainable Growth and Development” for 2024 fiscal year.
According to the Commissioner, N300 million was allocated to for the purchase and installation of transformers to relief the existing power sub-stations in the state.
Adebayo added that rural electrification of Igede Farm Settlement and Oye local government would gulped N150 million while 150 million would be spend on the extension of the operational independent Power Project.
He said that Governor Biodun Oyebanji’s administration was determined to invest in the power sector in order to enhance electricity supply in the state and boost economic growth.
Adebayo who described power supply as impetus and a major boost to the growth industries as well as Small and Medium Enterpises, said this accounted for the proposed huge investment in the power sector.
The budget commissioner added that the 2024 budget also made provisions for the construction of flyover from Ijigbo to Okeyinmi, reconstruction of the Ikere-Igbara Odo oad and construction of 9.2 km Atlas-Ajebamidele, Deeper Life-Alasia -Sheperd-Omisamjana Road.
Others include Rehabilitation of Ado-Ifaki Road dualization, rehabilitation of public buildings, land clearing for agricultural purposes, renovation of public schools, construction of perimeter fencing at the Government Technical Colleges in Otun, Igbara Odo and Ijero.
Adebayo noted that provisions were also made for completion of a new befitting Governor and Deputy Governor’s Lodge in Asokoro, Abuja and purchase of office furnitures and equipment for MDAs for effective service delivery.
He added that 40% of the total budget has been earmarked for infrastructures and industrial development while 13% was allocated for Youth development and job creation.
The commissioner explained further that revenue of N53.6bn was expected from the federation account, N28bn from VAT, N22.5bn to be raised from the internally generated revenue, N25.5bn from grants with an opening balance of N4.8bn.
He assured that the government would leave no stone unturned in ensuring the full implementation of the 2024 budget for the growth and development of the state.