The Chairman, Ado-Odo/Ota Local Government, Chief Oladele Bashir Adeniji has presented the sum of N821, 493,310.70, as the Council’s Budget Proposal for the 2019 fiscal year.
Adeniji, while presenting the Budget at the Legislative Chamber of the Local Government, explained that N249, 099, 942, 92, would be for capital expenditure, representing 30 percent, while N572, 393, 364, 78, representing 70 percent would be for recurrent expenditure, with a reduction of N34.462.411.15 as against N855, 955, 721, 85 of 2018.
“The source for the sum of N104,985,646.60 would be through the Internally Generated Revenue (IGR), accounting for 13 percent, N593,364,711,68 will come from Statutory Allocation from Federation Account, accounting for 72 percent, Statutory Allocation from State, N31,500,000,00 accounting for 4 percent, Value Added Tax (VAT) 37,143,052.42 accounting for 5 percent, while N54,500,000.00 will come from Extra Ordinary Items and Capital receipts, accounting for six percent’’.
The LG boss said a total of N821,493,310.70 accounting for 100 percent was the proposed revenue, emphasizing that the 2019 Appropriation Bill was a unique one, tagged, ‘’Consolidated Budget’’, geared towards strengthening the activities of the Council’s administration.
Adeniji said his administration was committed to continually make available the dividends of democracy to the people of the area, adding that concerted efforts are being made to further entrench a formidable yardstick to accelerate socioeconomic development.