The Ekiti State Government has voted N19 billion out of the N20 billion bond raised from the Capital Market for the development of road networks in the state.
The state’s Commissioner for Economic Planning and Budget, Debo Ajayi, who stated this on Thursday at the presentation of the 2012 budget analysis, said: “We are committing N19 billion bond money to road projects.
“This is why N12,656,184,246 or 24 per cent of the total capital budget is appropriated for the construction, rehabilitation and completion of road projects this fiscal year.”
He said the government would also boost tourism in its bid to increase internally generated revenue.
Other expenditure, according to Ajayi, includes N3 billion for the construction of new public structures to effect the relocation of the Governor’s Office and Government House.
Out of the fund, N2 billion would go to the construction of a new Governor’s Office; N400 million for the construction of the Governor’s Lodge in Lagos State; and N516 million for a Governments House in Ado Ekiti, the state capital.
A new civic centre, to be located in Ado Ekiti, will gulp N1 billion.