Home BUSINESS Bomadi : Chairman presents N4.8 billion budget to legislative arm

Bomadi : Chairman presents N4.8 billion budget to legislative arm

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Hon. William Angadi

By Steve Seigha, Business Editor

Chairman of Bomadi LGA Hon. William Angadi has presented the 2019 budget  of N4, 805,480,525.82  to the council legislative arm  for ratification. Saying 2019 budget   provide security for enabling business environment and rural sustainable infrastructural development.

 

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In a paper christened “BUDGET OF CONSOLIDATION” Angadi said, ”This  is driven by the desire of this administration to continue to provide security for life and property and create enabling business environment for businesses to thrive, sustain and consolidate rural transformation for improvement in our competitiveness economy. Accordingly, we shall ensure the implementation of programmes and policies that will improve the overall welfare and capacity of our people within available resources while at the same time strengthen primary healthcare service delivery and provide social interventions for the vulnerable in our society. We are committed to defraying the outstanding debt arising from contract awards and the complexion of these projects’’‘‘It is with pleasure that I present to you, the Leader and Members of the Legislative Arm, Bomadi Local Government Council, the 2019 Draft Estimates, christened “BUDGET OF CONSOLIDATION” for consideration and approval. As you are aware, the Local Government Annual Draft Estimate ought to be presented to the Legislative Arm of the Local Government Council at the beginning of the every year in line with the provision of Part II, Regulation 23(i) of the Delta State Local Government Law. However, I take full responsibility for the delay in the presentation of this years’ budget which was obviously due to the fact that 2019 is an election year.

 

‘‘In this regard therefore, the Bomadi Local Government have budgeted the sum of Four Billion, Eight Hundred and Five Million, Four Hundred and Eighty Thousand, Five Hundred and Twenty-Five Naira, Eighty-Two Kobo (N4, 805,480,525.82) as total disbursable fund for the 2019 fiscal year. Out of this amount, the sum of N4,322,068,025.82 will accrue from the Federal Statutory Allocation cum State Allocation, N349,969,750.00 will accrue from the Internal Generated Revenue while Independent Revenue will amount to 133,442,750.00 of the proposed Estimate. In addition, the mode of the appropriation of the expenditure for the 2019 fiscal year is N4, 805,480,525.82which consist of N1,413,866,150.82 for Personnel Cost, N232,750,000.00 for Consolidated Revenue Fund Charge, N11,500,000.00 for Allowance, N33,000,000.00 for Salary Arrears, N860,864,375.00 for Overhead Cost, N2,551,980,525.82 for Total Recurrent Cost, N2,253,500.000.00 for Total Capital Cost.’’ He said.

 

 

 

 

Angadi noted that ‘‘ the 2019 Draft Estimates that he presented today for consideration and approval by this Honourable House is prepared based on our Blueprint which hinges on transparency, accountability and good governance. The economy of the nation has come out of recession but with the recent announcement by the Central Bank Governor that the nation might slide back into recession, it is obvious that economic challenges are far from over. The 2018 budget was affected by the economic recession and this impacted negatively on governance but the Local Government Council was able to commence effective renovation of the Local Government Secretariat Complex and provided an enabling environment for the entire workforce for effective service delivery. Our first year in office was challenging but it provided us with the opportunity to reflect on the fundamental essence of governance and the need to continue on the path of self-reliance with the meager resources that have been bestowed on the Local Government Council.

 

‘‘The Leader and Honourable Members, since assumption of office, my administration recognised the need for us to change the narrative in order to fulfill our potentials. This recognition informed our intervention in the recovery of Local Government Assets and the intensive revenue drive that has been recurrent. The intention was to redirect our energies and fast-track a paradigm shift from relying solely on Federation Account Allocation to boosting and optimizing our internally generated revenue (IGR).

‘‘We have also matched that intention with the renovation exercises we have embarked on in the past one year. It is pertinent to say this, ‘there is no shortcut to economic development’, adequate infrastructure and appropriate policies are required to increase commercial activities, stimulate economic growth and development hence my administration has bent-over- backwards to ensure that infrastructures are in place in a desperate bid to revamp our economy. It is in this regard that I want to express my profound appreciation for the show of leadership; courage and synergy that the Executive have shared with the Legislative Arm in the past one year.

 

‘‘Indeed, the implementation of the 2018 budget was greatly impaired by the slow economic growth in the Country but we have continued to apply prudence in the utilisation of scarce resources by partnering with the security agencies to provide security of life and property while at same time meeting our debt obligations. We are committed to defraying the outstanding debt arising from contract awards and the complexion of these projects. The fiscal year 2019 Budget, therefore, is driven by the desire of this administration to continue to provide security for life and property and create enabling business environment for businesses to thrive, sustain and consolidate rural transformation for improvement in our competitiveness economy. Accordingly, we shall ensure the implementation of programmes and policies that will improve the overall welfare and capacity of our people within available resources while at the same time strengthen primary healthcare service delivery and provide social interventions for the vulnerable in our society.’’ He stated.

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