By Abimbola Joseph
CITIZENS COMPASS —The Chairman of Ikorodu Local Government in Lagos State, Mr Wasiu Ayodeji Adesina, on Friday, December 29, 2023, presented a budget proposal of N2.2 billion for 2024 to the council’s legislature for approval.
Presenting the budget tagged, “Budget of uncommon Growth”, the chairman said the council hoped to receive N677,390 million from federal allocation, N1.317.010 billion from VAT
According to him, the council would receive N80.59 million from other federal related allocation, N125 million from Internally Generated Revenue (IGR) and N50 billion from State Coordinated Revenue.
On expenditure, the chairman stated that personnel cost for staff was put at N402.5 million, teachers’ salary, N255 million, political office holder N78million, while pension cost is N149.7 milion.
Overhead got N4768.7 million; Social Services Projection N215 million, while other capital expenditure is N319.5 and repayment loan is N50 million.
The council boss told the councilors that the 2024 budget proposal was expected to transform the IGR of the Council which would be profitable and impactful in puting basic amenities in the community.
He appealed to residents to ensure prompt payment of taxes and rates as the only way to embark on more projects and for people to enjoy more dividends of democracy.
The Chairman noted that the adverse increase in the budget compared with last year was for the development of Ikorodu and one of the main focus was to build a Central Park to enable free flow of traffic and generate more revenue.
He highlighted other areas as; building the legislative block for a complete separation of powers, building of ICT centre to train youths, empowering the elderly, youths and widows, rehabilitation of inner roads and attending to identified bad roads in Agura area.
“Today marks an important occasion in our quest to accord the Year 2024 fiscal budget with the seriousness it deserves.
“As the theme of this year’s budget implies, we want to be purposeful, profitable, tranformative and sustainable in meeting the yearnings of our people.
“We are going to engage on Public Private Partnership (PPP) and garage union in delivering some of our projects, especially the central park, to ease traffic,” he said.
The Leader of the House, Mr Adebola Adebowale, commended the chairman for the success recorded so far on year 2023 budget, assured him of their support and urged the council to do more on empowerment.
Adebowale, promised that the legislature would scrutinise the budget properly and ensure that tax payers money is judiciously expended.
“We agreed to increase the budget to accommodate the needs of our people because their interest are very key.
“We will screen it very well in making sure that tax payers money is expended judiciously.
“We will advise the chairman where necessary on areas that need prompt attention to make laws that will benefit the people.
“We will ensure that this council engage in lots of empowerment programmes that will benefits residents especially youths,” he said.
Present at the event is Mr Gbolahan Ogunleye, Lagos State House of Assembly member representing Ikorodu central and other All progressive Party leaders.