Ekiti State Governor, Engr. Segun Oni has presented a budget estimate of N67.477billion to the State House of Assembly for the 2010 fiscal year.

Under the budget christened “Budget of Assurance”, a sum of N37.008 billion representing 55% of the total figure is earmarked for capital expenditure while N30.468 billion indicating 45% of the budget is set aside as recurrent expenditure.

Governor Oni explained that N5.4 billion out of the recurrent budget is earmarked for the payment of staff salaries, adding that a sum of N12.109 billion would be spent on the running of governmental bureaucracy and payment of sub inventions to its parastatals and tertiary institutions.

He disclosed that a sum of N1.650 billion was set aside for the payment of pensions and gratuities in the 2010 fiscal year.

The governor who affirmed his commitment to the rule of law and a separation of power disclosed that a sum of N1.5billion representing 2.2% of the total budget is earmarked for the State Legislative Arm while N952 million representing 1.4% of the budget is set aside for the State Judiciary.

Oni explained that provision of infrastructure and general and general administration sector would take a lion share under the capital budget, adding that a sum of N13.411 billion is set aside for the construction of roads and other infrastructures, while Agriculture and Rural Development as well as Small Scale Enterprises/ Employment Generation/Micro Credit would gulp N1.716 billion and N1.193 billion respectively.

He stated also that N9.167 billion representing 24.799% of the budget s assigned for the Social Sector comprising the Education, Health and Information Services sub-sectors.

According to the governor, a sum of N3.99 billion would be expended o the provision of Education Services, N2.985 billion for Health Services and N2.189 billion on Information Services and Social Development.

Speaking on revenue projection for the 2010 fiscal year, Oni stated that the total revenue expected by the state is N67,477 billion out of which statutory allocation is expected to fetch N25 billion representing 37.05% of the expected revenue; VAT, N4.8 billion representing 7.11%, Internally Generated Revenue, N10,846 representing 16.07% of the budget.

Responding on the behalf of the House, the Speaker, Hon. Tunji Odeyemi assured that the House will give the budget the attention it deserves.