Governor Olusegun Mimiko has signed the 2014 Appropriation Bill of the State into law , stating that the budget was a reference point in global practices.
He disclosed that the 2014 budget was N168 b, with N71 billion allocated as recurrent expenditure and N96 billion capital expenditure.
He said the budget is geared towards the sustenance of all laudable programmes initiated by his administration.
Speaking before members of the State Executive Council, members of the State House of Assembly, Chairmen of State Government parastatals, top government officials and party leaders at the Cocoa Conference Hall , Governor’s Office, Akure, the Governor explained that the budget is meant to substantially expand the state’s economic base through continuous involvement in infrastructural development as road networks, industrial power plant and agriculture.
Commissioner for Budget and Economic Planning, Mr. Akin Adaramola , commended members of the Finance and Appropriation Committee of the House of Assembly, who denied themselves of personal conveniences by going through the budget proposal in record time.
He noted that the budget is a departure from the old practice , as it was prepared in compliance with the International Public Sector Accounting ( IPSA) standards.
Governor Mimiko had on 31st December, 2013 , presented the 2014 budget before the State House of Assembly.