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Don Oteh Umoru presents A BUDGET FOR N2.808,282,183.78(100%) TAGGED BUDGET OF “SOCIAL AND ECONOMIC TRANSFORMATION” for 2018 fiscal year

Don Oteh Umoru presents A BUDGET FOR N2.808,282,183.78(100%) TAGGED BUDGET OF “SOCIAL AND ECONOMIC TRANSFORMATION” for 2018 fiscal year

Don Oteh Umoru presents A BUDGET FOR N2.808,282,183.78(100%) TAGGED BUDGET OF “SOCIAL AND ECONOMIC TRANSFORMATION” for 2018 fiscal year

The Executive Chairman of Akoko Edo local government council of Edo State, Hon Don Oteh Umoru On Friday presented the 2018 budget estimate of N2,8808,282,183.78 to the legislative arm of the council for consideration and approval.

The recurrent component of the budget estimate is N1,165,072,183.78(41.5%)while the capital expenditure stands at N1,643,210,000(58.5%)

Tagged “Budget of Social and Economic Development, the draft estimate is made up of the following: Statutory Receipts: N2.bn Internally Generated Revenue (IGR): N672730000Excess Crude Fund: N169,148,758.40 Grants and Donations: N8,000,000.00

The Recurrent component of the budget is made up of Personnel Costs: N647,794,758.40 Overhead Costs: N365,075,000.00 and Consolidated Revenue Fund Charges of N152,202,425.38

The Capital estimate targets projects in the economic, environmental, social and general administration sectors, with massive infrastructural development in view.

The capital sum ofN1,643210000.0 is shared for economic sector: N1,017500000.00; social sector: N195,500000.00 environmental sector: N1207000000.00 and general administration N309,510000.00

The Executive Chairman tasked community leaders to monitor all projects cited in their respective communities, with a view to making contractors accountable.

He assured that his administration will be very prudent and stringent in the recurrent expenditure in order to maintain a critical balance between the capital and the recurrent.

“This budget is designed to provide the basis of giving practical expression of our shared commitment to take Akoko Edo local government to the next level of development.

“For us, this is the beginning of a new dawn we believe will put Akoko Edo local government on a steady path to sustainable development, as well as ensuring that the dividends of democracy are spread to the hooks and crannies of the local government area,” Don Oteh Umoru, present at the presentation of the budget and the vice chairman Akoko Edo local government council Hon Philip Eguarojie, Secretary to the local government Hon. Titilayo Afadama, Supervisory Councillors, Head of Local Government Administration (HOLGA) Dr Mrs Esther Owolabi, Directors and Heads of Department.

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