Sodipo Unveils 2025 Budget, Highlights Development in Key Areas
Tagged “Budget of Hope and Prosperity ” it was presented on Thursday on the floor of the Legislative Chambers to members of the Legislative Council under the leadership of Hon. Moruf Erubami
While Presenting, Sodipo acknowledged that the event was a testament to the collective efforts in participatory governance.
Reacting to the Year 2024 budget, he emphasized the performance which he described as satisfactory as it helps to set a benchmark for greater performance.
Speaking further, the chairman highlighted the laid down programme for the development of Abeokuta North Local Government as part of his cardinal programme in various sectors, including infrastructure, security, skill acquisition, serene environment amongst others aimed at improving businesses.
Sodipo said the aggregate projected revenue in the year 2024 was #6, 145, 479,928.22k as at October 31st 2024 a sum of #5, 494,276,60.45k from federation account, represent 94% while #170,98,588.27k represent 59% of the IGR of year 2024., #1,041,488,1399.38k as personnel cost overhead cost was #512,965,188.50k money sent on capital projects #5151, 537,558.99k while #3,826,54,412.34k spent on consolidated fund charges.
He noted that the 2025 proposed expenditure consists of capital expenditure #1,389,000,000.00k amounting to 13.2% as salaries and allowance #1234,393,947.52k as consolidated fund charges #4,015,000,000.00k
Erubami who commended the Executive Chairman, acknowledged that the performance of the administration since the inception of this tenure has been exemplary. While calling on all to diligently discharge their duties as governance is a collective effort, the Leader of the Council assured the Executive arm of their continued cooperation towards a greater Abeokuta North Local Government.
Budget
This Year’s proposed budget will be generated from the Federal Account Allocation Committee (FAAC), Internal Generated Revenue and the State Coordinated Revenue. It holds high prospects for the good people of Abeokuta North Local Government, as this administration will continue to pursue people oriented programmes for the benefit of all.
