Ekiti state Government has earmarked a sum of N48.4 billion as recurrent expenditure during the 2013 fiscal year.
The Permanent Secretary of the State Ministry of budget and Economic Planning, Mr Folorunso who made this known while addressing the press and some stakeholders during the 2013 budget analysis in Ado-Ekiti, said the figure represents 49.6% of the total budget for the year.
According to him, a sum of N8.3 billion representing 8.5% of the budget has been set aside as personnel cost while N21.6 billion representing 21.6% has been allocated as recurrent grants to parastatals and state owned tertiary institutions.
Mr Folorunso disclosed that a sum of N6.8billion was earmarked as recurrent grants to the State Teaching Service Commission while a total of N2.5billion has been set aside as grants to the Ekiti State University Ado-Ekiti.
He said that the College of Education, Ikere and the University of Ado-Ekiti Teaching Hospital would each receive recurrent grants of N1.8billion in the fiscal year .
The Permanent Secretary disclosed that the state government has set an Internal Revenue Target of N15.7billion for the Fiscal year.
He said the figure which include revenue generated from all the state parastatals as well as the state Signage and Advertisement Agency represents 16.1% of the total revenue projection during the fiscal year
Folorunso said necessary machineries would be put in place to achieve the target of N15.7billion for the 2013 Fiscal year.
Last modified: February 6, 2013
