The Ekiti State Government stated that it intends to spend N600 million on power initiatives in 2024.
The Commissioner for Budget and Economic Planning, Niyi Adebayo, revealed this in Ado-Ekiti while presenting highlights and a breakdown of the N159.5 billion budget titled “Budget of Sustainable Growth and Development” for the fiscal year 2024.
According to the commissioner, N300 million has been budgeted for the purchase and installation of transformers to alleviate the state’s current electrical substations.
Adebayo stated that the rural electrification of Igede Farm Settlement and Oye Local Government Area would cost N150 million, while another N150 million would be spent to extend the existing Independent Power Project.
He stated that Governor Biodun Oyebanji’s government was committed to investing in the power industry to improve the state’s energy supply and stimulate economic growth.
According to Adebayo, the importance of power supply to emerging sectors as well as small and medium-sized businesses justifies the projected massive investment in the electricity industry.
He stated that the 2024 budget included funding for the building of a flyover from Ijigbo to Okeyinmi, the restoration of the Ikere-Igbara Odo Road, and the 9.2 km Atlas-Ajebamidele-Deeper Life-Alasia-Sheperd-Omisamjana Road.
Other provisions include the restoration of Ado-Ifaki Road, public building rehabilitation, agricultural land clearance, school renovations, and the construction of perimeter fencing at Government Technical Colleges in Otun, Igbara Odo, and Ijero.
cc: Daily Post Ng
