Ekiti State Government has approved a downward review of the 2020 budget from the initial N124.5b to N91.128b. 2020Budget Ekiti Nigeria
The state government said the decline in global oil prices has caused a fall in revenue accruing to the state from the Federation Account, which brought about the N33b budgetary reduction.
In the draft supplementary budget, according to the statement, the Personnel costs remained at 100 percent, while the council approved reduction in overheads by 50 and grants to parastatals by 20 percent. The government also approved a memorandum on the N 2.5b credit support facility for the medical sector in the state to be accessed via the Central Bank of Nigeria’s Credit Support Intervention for Health Care sector.
The government also approved N281, 928,000 for the procurement of laboratory equipment for Ekiti State College of Agriculture and Technology, Isan-Ekiti, Ekiti State.
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