On Tuesday, December 24, 2024, the Executive Chairman of Ikorodu Local Government, Hon. Wasiu Adesina officially presented the 2025 Budget to the Legislative Arm at the council’s Legislative Chamber.
Aptly named the “Budget of Consolidation and Prosperity,” the proposed budget of N4,048,732,534.44 is aimed at sustaining ongoing developmental momentum while addressing critical infrastructural, economic, and human capital needs within the local government.
The budget presentation ceremony was attended by key stakeholders, including members of the Legislative Arm, the Vice-Chairman of Ikorodu Local Government, Hon. Princess Folashade Olabanji-Oba, the Secretary to the Local Government, Alhaji Lateef Afini, and the Grand Chief Imam of Ikorodu Division, Fadilat Sheikh Imam Shefiu Ayinla Olowooribi.
During his address at the legislative chamber of the council, where the presentation occurred, Hon. Adesina conveyed heartfelt appreciation to the Legislative Arm and other stakeholders for their steadfast support throughout the outgoing year.
He described the 2024 fiscal year under the “Budget of Progress and Inclusion” as a transformative period for Ikorodu Local Government.
Significant strides were made across key sectors, including road rehabilitation, healthcare improvement, youth empowerment, and educational advancements, despite economic challenges.
Providing a breakdown of the 2024 fiscal performance, the Chairman noted that total expenditure stood at N3,455,848,440.13, comprising N1,833,017,440.13 for recurrent expenses and N1,622,831,000 for capital investments.
These expenditures contributed to critical projects, such as the upgrading of healthcare facilities, provision of educational materials, and execution of skill acquisition programs targeting youth and women.
Looking ahead to 2025, Hon. Adesina has highlighted three strategic pillars for the proposed budget aimed at fostering sustainable development.
These pillars emphasize a balanced approach to addressing pressing needs within the local government while preparing for future growth.
A significant portion of the budget will prioritize infrastructure renewal, focusing on completing ongoing projects and launching new initiatives.
These efforts are designed to improve public utilities and enhance connectivity across the local government area, ensuring that residents benefit from better roads, bridges, and essential public services.
Human capital development is another key pillar, with resources earmarked for upgrading schools and healthcare facilities.
The budget also includes provisions for acquiring essential equipment to enhance service delivery in these critical sectors, ensuring that residents have access to quality education and healthcare.
Economic empowerment forms the third pillar of the proposed budget, aimed at boosting local livelihoods.
Special attention will be given to supporting small and medium enterprises (SMEs), promoting agricultural activities, and creating employment opportunities.
These efforts will particularly focus on empowering youth and women, fostering an inclusive and robust local economy.
Together, these pillars reflect a comprehensive vision for 2025, balancing immediate needs with long-term sustainability.
Hon. Adesina’s proposal reflects the commitment to building a thriving community by addressing critical infrastructure gaps, enhancing human capital, and stimulating economic growth.
The proposed budget is to be funded through four major revenue streams: Federal Allocation: N1,467,785,220.86; Value Added Tax (VAT): N2,300,079,893.38; Internally Generated Revenue (IGR): N112,800,000; and State-Coordinated Revenue: N62,500,000
Hon. Adesina urged the Legislative Arm to conduct a thorough review of the proposed budget, ensuring it aligns with the aspirations of Ikorodu residents.
He emphasized the importance of a robust partnership between the Executive and Legislative arms to deliver impactful governance that meets the community’s needs.
Responding on behalf of the Legislative Arm, Council Leader Hon. Adebowale Adebola commended the Executive Chairman for his commitment to Ikorodu’s development.
He assured the residents of the council’s determination to scrutinize the budget thoroughly, ensuring transparency, accountability, and efficient utilization of public funds.
Hon. Adebola further pledged the Legislative Arm’s readiness to expedite the budget’s passage to sustain the pace of development in Ikorodu.
The presentation demonstrated the harmonious relationship between the Executive and Legislative arms, a partnership instrumental in driving socio-economic growth within the local government.
As the session concluded, both Hon. Adesina and Hon. Adebola extended their festive greetings to the people of Ikorodu, reaffirming their commitment to delivering good governance and fostering a prosperous 2025 for the local government area.
Also in attendance were; Alhaji Babatunde Tajudeen Rotinwa former chairman of the Lagos State Head Of Service commission; Alhaji Waheed Animashun, Chairman of the APC Ikorodu LGA; Alhaji Kehinde Ayanbadejo, Secretary of the APC Ikorodu LGA; local government officials; and other dignitaries.
INN-HOUSE☆ 