The Year 2025 Budget tagged “Budget of Hope and Prosperity” was presented on Thursday 10th April 2025 on the floor of the Legislative Chambers by the Executive Chairman of Abeokuta North Local Government, Dr. Lanre Oyegbola Sodipo to the members of the Legislative Council under the leadership of Hon. Moruf Erubami.
Presenting the budget, Dr. Lanre Oyegbola Sodipo acknowledged that indeed, today’s event was a testament to the collective efforts in participatory governance. While reflecting on the Year 2024 budget, the Council Boss emphasized on the budget performance which has been satisfactory as it included the way forward in setting a benchmark for greater performance.
Speaking further, the council chairman highlighted the laid down program for the development of Abeokuta North Local Government as part of his cardinal program in various sectors; in infrastructure, security, skill acquisition, serene environment amongst others aimed at improving businesses.
Dr. Lanre Sodipo explained that 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
The Leader of the Legislative Council, Hon. Moruf Erubami while appreciating the Executive Chairman, acknowledged that indeed 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.
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.
