Ondo State Governor Rotimi Akeredolu on Friday presented N171.238 billion for the 2018 Appropriation Bill to the State House of Assembly.
The budget with a capital expenditure of N68, 096 39.76 billion and N81,521, 47.60 for Recurrent expenditure.
Mr. Akeredolu said that the 2018 budget was in cognizance of the five cardinal programmes of his administration in the state.
"The State’s 2018 Budget Estimates will focus on rebuilding the State’s economy through prioritized investment in infrastructural facilities and agriculture-related activities.
"Consequently, our objectives for the 2018 budget are: intensify efforts on Independent Revenue (IR) initiatives by increasing IR by 100%, " Akeredolu said.
Sahara Reporters reported that the proposed budget represents about 55 percent increase over the 2017 budget.
The document which is tagged "Budget of Progress" included road construction taking a lion share of over N15 billion in the 2018 fiscal year.
The sectoral breakdown of the 2018 budget is as follows:
* Economic 77.671
* Social 52. 894
* Law & Justice - 3.389
* Regional - 6.125
* Administration - 31.099
Total: 171.268 100
According to Akeredolu, the 2018 budget was designed to reflate the economy of the state and provide the foundation for employment generation.
He stated that the present government on board had been able to access the fund accrued to the Universal Basic Education Commission (UBEC) in the state for the purpose of intervention.
He disclosed that over N7 billion would also be committed to the renovation of primary schools across the eighteen local government area of the state.
"Aside from this, six other secondary schools, two in each senatorial district, will be completely overhauled in the next fiscal year."
The governor added that his government was already working to ensure some of the dilapidated roads in the state are all repaired.
He named some of the roads to include Sabomi, Ayeka-Irele (Swamp Section), Internal Road Network at OSUSTECH, St Joseph/Lisa Road, Idanre, and the notorious Iwaro-Oke-Oka-Epinmi-Isua roads among others.
Bamidele Oloyelogun, the Speaker of the Ondo State House of Assembly said the lawmakers of the Assembly will expedite action on the 2018 budget.
Mr. Oloyelogun who spoke shortly after receiving the 2018 document from the Governor said the lawmakers would also perform their own job of ensuring the scrutiny of the budget.