By Bilesanmi Abayomi
The Chairman of Ikorodu Local Government, Mr. Wasiu Adesina, presented a bold budget proposal of N2.25 billion for the year 2024 to the council’s legislature on Friday. Themed “Budget of Uncommon Growth,” the proposal outlines ambitious plans to elevate the community’s infrastructure and services.
According to Chairman Adesina, the council anticipates receiving N677.390 million from federal allocation and N1.317.010 billion from Value Added Tax (VAT). Other revenue streams include N80.59 million from federal-related allocation, N125 million from Internally Generated Revenue (IGR), and N50 billion from State Coordinated Revenue.
Breaking down the expenditure, personnel costs for staff are earmarked at N402.5 million, teachers’ salaries at N255 million, political office holders at N78 million, and pension costs projected to be N149.7 million. Overhead expenses are allocated N4768.7 million, Social Services Projection N215 million, with N319.5 million for other capital expenditures and N50 million for loan repayment.
Chairman Adesina emphasized that the 2024 budget aims to magnificently transform the IGR of the Local Government, making it profitable and impactful in providing essential amenities for the community. He urged residents to ensure prompt payment of taxes and rates to support ongoing and future projects, emphasizing that this is crucial for the community to enjoy more dividends of democracy.
The chairman highlighted key focus areas, including the construction of a Central Park to facilitate traffic flow and generate additional revenue. Other plans involve building a legislative block for a complete separation of powers, establishing an ICT center for youth training, empowering the elderly, youths, and widows, as well as rehabilitating inner roads and addressing identified bad roads in the Agura area.
Adesina revealed that the budget increase compared to the previous year is directed towards the holistic development of Ikorodu, emphasizing the commitment to building a Central Park for traffic alleviation and revenue generation.
During the event, Mr. Adebola Adebowale, the Leader of the House, commended Chairman Adesina for the successes achieved in the 2023 budget. He assured the chairman of the legislature’s support and urged the council to focus more on empowerment initiatives.
Adebowale pledged thorough scrutiny of the budget to ensure judicious expenditure of taxpayers’ money, emphasizing the importance of addressing the needs of the people and engaging in impactful empowerment programs, especially for the youth.
In attendance were notable figures, including Mr. Gbolahan Ogunleye, Lagos State House of Assembly member representing Ikorodu central, and other leaders from the All Progressives Party.