PRESS RELEASE
The Executive Chairman of Ado-Odo/Ota Local Government Engr. Sheriff Adewale Musa FCPA on Tuesday 14th February, 2023 presented a budget of Five billion, Nine hundred and Sixty Seven million, Seven hundred and Seventy Three thousand, Five hundred and One naira only (#5,967,773,501,00) tagged "Budget of RENEWED HOPE" to the Legislative arm of the council area.
Engineer Sheriff Adewale Musa FCPA during his presentation said the year 2023 budget was specifically designed to create an enabling environment for sustainable development and building on previous year achievement. He added that the budget was built around the people by ensuring that projects that would have direct impact on the lives of the people are executed.
The Council Boss commended the working relationship with the Legislative council. In his words, "I want to specifically acknowledge your unalloyed support in the last one year without which the successes we have recorded would not have been possible".
The budget showed that, the proposed total budget is Five billion Nine hundred and Sisty Seven million Seven hundred and Seventy Three thousand Five hundred and One naira only (#5,967,77 3,501.00) for the year 2023 representing an increase of the sum of Seven hundred and Eighty Six million,Fourty Two thousand, Two hundred and Fourty Four naira only (#786,042,244.00) or 15.16% above last year's figure. A breakdown of this figure shows that the sum of Five billion, Seven hundred and Thirty Seven million,One hundred and Seventy Three thousand, Five hundred and One naira only (#5,737,173,501.00) is expected in both the Federal and State accounts respectively while the sum of Two hundred and Ten million, Six hundred thousand naira only (#210,600,000.00) @is projected as internally generated revenue while the sum of 20 million naira only is expected from the State Government as Aids and Grants. The sum of Five billion, Nine hundred and Sixty Seven million, Seven hundred and Seventy Three thousand, Five hundred and One naira only(#5,967,773,501.00) which is the proposed total expenditure for the year is made up of Five billion, One hundred and Fourty Three million, Seven hundred and Two Four thousand, Five hundred and One naira only (#5,143,724,501.00) and Eight hundred and Twenty Four million, Fourty Nine thousand naira only (#824,049,000.00) as recurrent and capital expenditures respectively. The year's recurrent expenditure of Five billion, One hundred and Fourty Three million, Seven hundred and Twenty Four thousand, Five hundred and One naira only (#5,143,724,501.00) representing 86.19% of the total budget size and is made up of the sum of One billion, Ninety Seven million, Nine hundred and Seven thousand, Five hundred and One naira only (#1,097,9 07,501.00) perssonnel cost accounting for 18.40% of the total budget while overhead cost would gulp the sum of Four Hundred and Seventy Million, Eight hundred and Seven thousand naira only (#470,820,000.00) representing 7.89% of the total budget. On the other hand, consolidated revenue fund charges which account for 59.91% of the total budget size is allocated the sum of Three billion, Five hundred and Seventy Five million naira only (#3,575,000,000.00). A further breakdown of the Consolidated Revenue Fund Charges figures indicate that the sum of One billion, Five hundred million naira only (#1,500,000,000.00) would cater for the pensions of both Local Government staff and retired primary school teachers while 20 million naira is earmarked for the payment of gratuities.
In addition to this, primary school teacher's salaries and allocation to the Traditional Council would account for the sum of One billion, Eight hundred million naira (#1,800,000,000.00) and One Hundred and Sixty Million (#160,000,000) naira respectively.
While presenting the proposed budget tagged "Budget of Renewed Hope" the chairman wished the Legislative Council of Ado-Odo/Ota Local Government a fruitful deliberation and a quick passage of the proposed budget.
The leader of the Legislative Council Hon. (Mrs.) Omosowon Bukola Balogun while giving the closing remarks at the budget presentation appreciated God Almighty for the kind of leadership traits embedded in the life of the executive chairman who operates open door system as his style of governance. She added that, their promises last year to keep on with the good work of the governor of Ogun State His Excellency Prince Dapo Abiodun MFR in conformity with his political agenda in transforming the lives of the good people of the State made the house to pass Four (4) Bills into Bye-laws.
The Bye-Laws are:
i. Bye-Law on community rate and other related matters.
ii. Passage of year 2022 Appropriations Bill.
iii. Passage of Bye-Law on naming of streets and other related matters.
iv. Passage of Bye-Law on Environmental Sanitation and Waste Management in Ado-Odo/Ota Local Government and matters connected therewith.
The leader further said that, this year proposed budget tagged "Budget of Renewed Hope" is in pari passu with the chamber's mission for the year 2023 called "Year of Hope Renewal". She called on all Legislators to be proactive to the schedule before them and also to do the needful within a stipulated period of time.
ALABI SHERIFF
INFORMATION DEPARTMENT
AOOLG
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