2021 budget: Ikosi Isheri Council to spend N2.5bn

The  Chairman, Ikosi-Isheri Local Council Development Area (LCDA), Princess Samiat Bada on Wednesday presented  a proposed 2021 budget of N2.5 billion to the Legislative arm of the council.

The presentation took place at the Legislative chambers of the LCDA.

According to her, the proposed budget tagged “New Beginning” is a product of a wide range of opinions of stakeholders at the grassroots and it is focused on the exact needs of the people.

“This budget is focused on the needs of the people so that our expenditure pattern would be tailored towards realising the noble objective to align with the Lagos State Government’s slogan of continuity.

“`The budget presentation is ‘two in one’ as it entails the review of 2020 budget and highlights the proposed 2021 budget.”

She said, “The local government achieved remarkable success with 98 percent performance on capital projects from January to December 2020.

“This was achieved in construction, rehabilitation of roads at various locations and on other social-economic programmes,” she added.

According to her, the proposed year 2021 budget is a perfect one with proposed total income and expenditure of two billion, five hundred and thirty-four million, four hundred and twenty-eight thousand, eight hundred and forty-three Naira, seventy-six kobo (N2,534,428,843.76).

The council boss said that the expected Internally Generated Revenue (IGR) was pegged at N129,900,000.00 and overhead costs were estimated at N792,599,484.32.

Mr Usman Ajibola, the Leader of the House, said that the house would expedite passage of the budget for the benefit of the residents.

Ajibola reiterated cooperation between the legislative and executive arms of the LCDA and commended the executive chairman for her leadership and services.