Weeks after the Lagos State Government led by Mr. Akinwunmi Ambode passed the biggest budget in the history of the state, the administrators of the local government and local councils have followed suit by declaring their budgets for the year 2018.
To ensure accountability, fairness and adequate adherence to the items listed in the budget across the LG areas across the Lagos Mainland, InsideMainland has commenced a ‘Know your government’ series where all the budgets of the LG areas under the Lagos Mainland will be featured at intervals for stakeholders, residents groups and more to have adequate knowledge of the spending of their various elected administrators.
The first in the series features Ifako – Ijaiye Local Government area led by Apostle Oloruntoba Oke.
On Wednesday, March 14, 2018, Hon. Oke presented a budget totaling N2,178,148,859.44 to the legislative arm of the council. The budget tagged ‘All Inclusive budget’ has been passed by the council with a huge chunk of the budget worth N1,563,729,874.85, which covers 71.79% as recurrent expenditure.
A total sum of N614,418,984.59 is budgeted for capital expenditure which covers 28.2% of the total budget.
Following the presentation of the budget, residents of the community as well as critical stakeholders who witnessed the ceremony have showed high hopes around the implementation of the budget which they said would bring the desired change to development in the community.
See the detailed highlights of the budget below.
Total Budget: N2,178,148,859.44
Recurrent Expenditure: N1,563,729,874.85
Capital Expenditure: N614,418,984.59
Recurrent as a percentage of total: 71.79%
Capital Exp as a percentage of total: 28.2%
Recurrent expenditure breakdown:
1. Personnel cost – N597,891,760.85
2. Teachers – N605,928,114.00
3. Overhead cost – N360,000,000.00
Capital expenditure breakdown:
1. Commerce, etc. – N2,000,000.00
2. Planning & budget – N5,000,000.00
3. MDG/Donor Agencies – N9,000,000.00
4. Agriculture – N9,000,000.00
5. Works & Housing – N510,418,984.59
6. Environment – N8,000,000.00
7. Health – N51,000,000.00
8. Education – N10,000,000.00
9. WAPA – N10,000,000.00