The News Agency of Nigeria, (NAN) reports that the budget, christened, “Budget of Restoration”, is made up of N57.8billion capital expenditure and N72.7billion recurrent expenditure.
The capital expenditure represents 44 per cent, while the recurrent expenditure is about 56 per cent of the budget.
Fayemi said the budget was tailored after the 4-pillars of his administration, which are Social Investment, Knowledge Economy,
Infrastructure and Industrial Development and Agriculture and Rural Development.
He listed the policy thrust and objectives of the budget to include establishment of an effective strategy to revamp the state’s economy as well as improving Internally Generated Revenue (IGR), among others.
According to him, the budget has been structured in a manner that will liberate the state from poverty and underdevelopment.
“I am not on a revenge mission, but rather, I am back as a healing balm on a painful wound. We as a responsible government are not interested in trials by media, political witch hunt or playing to the gallery merely to achieve cheap popularity.
“That is why this administration is not set out to abandon any of the ongoing projects embarked upon by my predecessor, especially considering the fact that such projects are being financed by the state tax payers.
“A bottom- line approach was adopted in preparing the budget to really meet the yearnings of the people and return the state to its rightful place among the comity of states.
“This was why I made sure government consulted widely and gathered the inputs of all stakeholders in achieving a budget that will reflect collective aspirations, needs and demands for sustainable growth of all the 16 Local Government Areas,” he said.
Responding, the Speaker, Mr Adeniran Alagbada commended the governor for the early presentation of the budget and promised to accord it accelerated consideration so that people of the state can begin to enjoy dividends of democracy under the new All progressive Congress led administration.