KOSOFE LG BOSS PRESENTS N3.82b BUDGET TO LEGISLATIVE ARM, TAGS IT BUDGET OF INFRASTRUCTURE DEVELOPMENT

Posted By Published

~Projected Expenditure To Gulp N4.193b


The Executive Chairman of Kosofe Local Government, Barrister Moyosore Ogunlewe on Thursday presented a budget of N3, 828, 702, 174.63 (Three billion, eight hundred and twenty eight million, seven hundred and two thousand, one hundred and seventy four naira, sixty three Kobo) to the legislative arm of the local government for the fiscal year 2023.

The budget which was tagged "budget of infrastructure development" is based on projected revenue from Internally Generated Revenue(IGR), Statutory allocation from federation Account, State Coordinated Account, VAT and grants.
The budget presented also shows a projected expenditure of N4, 193, 930, 056.9 (Four billion one hundred and ninety three million nine hundred and thirty thousand and fifty six naira nine kobo) bringing the budget to a deficit of N365, 227,882.95.

The breakdown of the budget shows that the Local Government expects to generate a total amount of N112,644,204.00 from its Internal Generated Revenue (IGR) drive, while a total amount of N100, 000, 000 is expected from the state coordinated IGR.

The projected revenue from Statutory Allocation from Federation Account is N 1, 232, 392, 989.43 while Value Added Tax (VAT) and other grants are N 2,083,664,981.21 and N300,000,000 respectively.
On the side of expenditure the local government pegged its personnel Cost on Local Government Staff at 500,365,683.83 while Personnel Cost on LGEA Staff stands at N557, 708,017.

The overhead cost is projected at N628, 200,000; Political Office Holders will gulp N100,931,356.12 and Operating Expenses (Overhead) is N1,122,525,000. 

 The Local government also plans to spend N174,200,000; N90,000,000 and N1,020,000,000 on SSE (Overhead), SSE Capital) and Other Capital Expenditure respectively.

 Barrister Ogunlewe while presenting the budget to the Leader of Legislative arm, Hon. Idowu Oluloro, stressed the significance of the budget to the infrastructural development agenda of his administration.

He averred that his "administration is more committed to implementing projects and programmes that will have meaningful impact on the lives of the populace in such a way that individual, neighbourhood and Community would be provided with necessary facilities, infrastructures and conducive environment that will make them utilize their full potentials and capabilities"

He added that the 2023 budget had been prepared is such a way that the yearnings of the citizens of Kosofe Local Government Area and the objective of his administration are adequately taken into consideration, noting that the budget would seek to eradicate poverty and create wealth; maintain Recurrent/Capital ratio; emphasis on maintenance/improvement of public assets; make a realistic growth in Internally Generated Revenue; create a conducive environment for private investors through PPP initiatives and investment climates; improve managerial efficiency with the aim to reduce public spending and to mobilize all available resources towards the development of the Local Government Area.

While thanking the Legislative arm and the staff of the Local Government for their support, the Council Boss expressed delight with the performance of year 2022 budget noting that his administration was able to record remarkable achievements such as the Purchase of four Revenue Buses for Area offices within the Local Government; reconstruction of 11 Road projects and 7 drainage systems; construction of the Customary Court and Administration Office and distribution of free GCE forms, and UTME JAMB for Kosofe Students, among others.

Earlier, The leader of the House, Hon. Idowu Oluloro in his address, thanked the Executive Chairman and his Executives for their excellent performance.

While receiving the budget from the council Chairman, he assured of its swift passage and also appealed for its thorough implementation.

Comments

Post a Comment

Most Read

Sunday Igboho Is An Assassin And I Once Got Him Arrested For Attempting To Assassinate Asiwaju Tinubu And Rauf Aregbesola for N25 million – OTO

Posted By Published
Image
His name is Abdulrazaq Rafiu Kolawole. And he is well known as ‘Oto’ in the political and social circles. For those who don’t know him, he was the former chairman Federal Task Force SURE-P under former president Goodluck Jonathan, a former head of bodyguard to former Governor of Lagos state Babatunde Raji Fasola, a former head of bodyguard to Governor Fayemi, a former task force chairman under Otunba Gbenga Daniel. And former Personal Assistant on Security to the former governor of Osun State Ogbeni Rafiu Aregbesola. On Sunday February 14th, he granted a special interview to Kosofe Reporters, an online TV and a national newspaper at his residence somewhere at Ketu where he made stunning revelations about a popular Yoruba activist, Sunday Adeyemo aka Sunday Igboho. In the ensuing interview with Olusegun Apena, Taiwo Fadipe and Seun Adeoye, Oto as he is popularly called, describes Sunday Igboho as an assassin, a ritualist and a political thug and that he once got
Read more

APC Adjusts Primary Elections Timetable Again, Shifts Special Congresses To May 16-17

Posted By Published
Image
  The All Progressives Congress (APC) has once again proposed an adjustment of its Timetable for participation in the 2023 General elections and has moved its Special Congresses for Delegates to May 16 and 17. Special Congresses were originally scheduled to hold from Thursday, May 12, until the Party, which is currently racing against time, took the decision to change the date and allow time for critical announcements and orientation of committee members before the Congresses. This will be the third time the ruling party will be presenting timetable for its crucial primary elections after its National Convention of March 26, 2022.   The Independent National Electoral Commission (INEC) recently warned political parties to ensure they meet its own deadline for primary election. It was gathered that the latest change was to allow the party set up committee for the special congresses which was originally scheduled for Thursday May 12, 2022. Sources told Prime Business A
Read more

KOSOFE CDC CHAIRMAN, SEGUN BABATUNDE, ARRESTED BY POLICE OVER FRAUDULENT RELOCATION OF COMMUNITY TRANSFORMER.

Posted By Published
Image
* Warned To Stop Addressing Himself As Honourable Kosofe Local Government Area CDC chairman Mr. Segun Babatunde has reportedly been arrested by the men of Nigeria Police Force, Zone Il Onikan Lagos, for allegedly relocating a transformer belonging to a community in Oworoshoki in Kosofe Local Government Area of Lagos State fraudulently. Kosofe Reporters gathered that the CDC chairman was arrested on Friday evening at around 5pm and was accused of conspiring with others of relocating a transformer belonging to Adebare Community Development Association, Oworoshoki to an affluent community in the same area fraudulently. Mr. Babatunde, who an amorphous political group in Kosofe, known as "Kandahar" is secretly pushing for to become the next APC LGA Chairman of Kosofe Local Government Area , was reported to have forcefully and fraudulently taken away the 500KV transformer belonging to the community sometime in 2019. The transformer was reported to have been
Read more

BREAKING: Kosofe APC Ward B elects State and LG Adhoc delegates

Posted By Published
Image
The state and LGA adhoc delegates of All Progressives Congress in Ward B in Kosofe local government  have been elected in line with the directives of the National secretariat of the party. The results of the delegate elections  that took place at Araromi Primary School Gbagada on Wednesday as witnessed by INEC official Mrs. Oluwatoyin Adebayo and the DPO of Ifako Police Station  are as follow:   STATE DELEGATES 1 MUSILIU AIGORO       364 2 DEMOLA GANDONU  306 3 BEN PRICE.                 348 4 TAIWO ADEDEJI          331 5 SOTIRE SOLOMON.     320 LGA DELEGATES 1 WALE AJIBOSIN.             330 2 IBRAHIM BAKARE OLAWALE  324 3 OGEDE SAHEED                    361 4 LAWAL OLAYINKA                322 5 IBRAHIM OLAJUMOKE.        320 The total number of accredited party members is 433. More details later...
Read more