BUDGET 2018: DAINI PRESENTS 1.6 BILLION NAIRA BUDGET TO THE LEGISLATIVE ARM OF IGBOGBO/BAYEKU LCDA. | Shakiru Seidu. "The Budget will be given urgent attention to fast track the growth and development of our LCDA," Leader of the House, Councillor Alimi, assured.

It was a memorable day at the Hallow Chamber of the Legislative Arm of Igbogbo/Bayeku LCDA, on Tuesday, 20th of February, 2018, when the number one citizen and the Chairman, Igbogbo/Bayeku LCDA, Comrade Olusesan Daini, presented a budget of relief before the Legislators.

In his eloquent address, Daini reiterated that this year budget will aggressively increase the current position of development in Igbogbo/Bayeku LCDA. He said, "this year’s budget tagged Budget of Transformation and Development is based on a new orientation in which government efforts will be directed towards solving real challenges and making life more meaningful to our people. Pragmatic efforts will be taken to ensure that government spending come to bear positively on the life of the people.

"More so, is the fact that the year 2018 budget proposal is well articulated and all the projects and programmes therein have been carefully  structured to fit into the smart city project of the state Government . Due to the  proximity of the LCDA to the  city of Lagos, you will  all agree with me, Igbogbo and environs  are  now experiencing rapid population increase, a situation that is exerting pressure on the grossly inadequate infrastructures like roads, health facilities, water system, school buildings etc. most of which are already in fair state of direpair.

"Before I procede on the presentation of the year 2018 Budget it will be very appropriate to briefly review the performance of Year 2017 Budget. As you all know, this administration is just almost seven (7) months old, most part of the year 2017 Budget was executed by our predecessor. Our review on the previous year budget was based on the available records.
Therefore, according to the records, a total sum of Seven hundred and fifty two million, nine hundred and forty four thousand, three hundred and fifty five naira, eighty five kobo (#752,944,355.85) was approved for that fiscal year (2017) and expenditure of five hundred and eleven million, six hundred and forty five thousand three hundred and ninety two naira, thirteen kobo (#511,645,392.13) which represent 68% of budget performance.
My distinguished Councillor, the budget performance for year 2017 as revealed clearly in term of expected revenue and the actual amount realized. The performance of the revenue is an indication that the year under review experienced drastic revenue improvement."

Comrade Olusesan Daini further highlighted the year 2018 budget. He said, "This year's budget has been properly scrutinized and turned to take care of the aspirations of the people in terms of general development of our LCDA and welfare of the people including the work force, through provision of roads and other infrastructures, poverty alleviation programmes, improved health care services, upgrading of our primary school etc.

"The total budget proposed for the year 2018 is One Billion, Six hundred and thirty two Million, one hundred and sixty – five Thousand, twenty Six naira, eighty five kobo (#1,632,165,025.85) which represents an increase of 46% that is Eight Hundred and Seventy-Nine Million, two Hundred and Twenty Thousand, six hundred and Seventy-one naira, one Kobo (#878,220,671.01) only over the last budget. The internally generated revenue budgeted is sixty six million, eight hundred and eighty thousand naira (#66,880,000) and state coordinated of thirty one million naira (#31,000,000) while statutory Allocation is eight hundred and thirteen million, eight hundred and ninety seven thousand, six hundred and eighty three naira (#813,897,683.00) and Value Added Tax (VAT) seven hundred and five million, nine hundred and ninety six thousand, three hundred and seventy seven naira (#705,996.377.00).

"The recurrent expenditure according to common practice is viewed under Personnel cost & Overhead cost. The personnel cost consist of both salaries and emoluments of the LCDA staff, including teachers. For this, a total sum of two hundred and sixty two million, three hundred and sixty one thousand, eighty four naira, seventy six kobo (262,361,084.76) for personnel staff and one hundred and seventy five million, six hundred and nineteen thousand, and nineteen naira, twenty seven kobo (175,619,019.27) for teachers salary of the total budget proposed.

"The overhead cost is amounts to a total sum of two hundred and forty six million, five hundred and thirty eight thousand, three hundred and thirty naira, fifty six kobo (246,538,330.56) of the total budget size. The overhead cost is an aspect of the budget that is used to service the programme and activities of the government at all levels.

"Capital Expenditure amount the total sum of three hundred and sixty nine million six hundred and forty six thousand, five hundred and ninety two naira, twenty seven kobo (369,646,592.27) has been earmarked to cater for the capital expenditure for the year in various sector and construction of two roads namely Oliwo Amoju Street/Olayinka Street/Moshood Hassan Street in ward C2 and Ajose Street in Ward C4 respectively with five hundred and seventy eight million naira (#578,000,000).

"The sectors are as follows;
Education, Health, Agriculture, Rural & Social Development, Works & Infrastructure, Commerce, Finance, Co-operative & Supply, Technological Development. The details of the analysis of these expenditures have been itemised in the budget on their various vote heads and sub-heads."

Daini therefore, solicited for quick and immediate consideration and passage by the legislators. "The proposed income of the sum of One Billion, Six hundred and thirty two Million, one hundred and sixty five Thousand, twenty Six naira, eighty six kobo (1,632,165,026.86) only and a proposed expenditure of the same amount which make it a balanced budget", he added.

Among those attended the budget presentation were Member of the Lagos State Seventh Assembly and former Exco member of Lagos State, Hon Adebimpe Akinsola, Member of the Sixth Assembly, Hon Gbenga Oshin, Chief Adenrele Olowu, former HOS, Lagos State, Prince Adesegun Ogunlewe, former executive Chairman, Igbogbo/Baiyeku LCDA, Hon Gbenga Basanya, former ES and former Sole Administrator, Hon Taiwo Orenuga and Mrs Bolanle Basorun, APC Chairman, Igbogbo/Baiyeku LCDA, Alhaji Sefiu Ogunyemi and former Vice Chairman, Hon Rotimi Olowonisaye.

Others were royal father representative, Community Leaders, Legislative and the Executive Arms of Igbogbo/Baiyeku LCDA, the Staff of the LCDA, among others.

SHAKIRU SEIDU
The Publisher, MegaXpression Magazine