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Ekiti records N1.5bn deficit in Q1 2021
The Ekiti State Government has recorded a deficit of N1.5 billion for the first quarter of 2021, its just-released State Accountability Report for Q1 2021 has shown.
According to the report, the State generated revenue of N4.4 billion and recorded a total recurrent expenditure of N4.3 billion in January 2021.
In February, the revenue of N3.2 billion and expenditures of N4.1 billion was reported, while in March, the State generated revenue of N3.2 billion and expenditure of N4 billion was reported.
The total revenue for Q1 2021 was N11,095,936,504.57. The total recurrent expenditures stood at N12,621,335,548.90 and the State recorded a deficit of N1,525,399,044.33.
The State revealed that in Q1, it spent more than its Federal Allocation and EVAT receipts on salaries and subventions to tertiary institutions, with salaries + subventions/ Statutory Allocation taking 103% for the quarter.
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