Aiyekire/Gbonyin Council Chairmen Jointly Present 2024 Budget Estimate to Aiyekire LGA/Gbonyin LCDA Legislative Council.

Aiyekire/Gbonyin Council Chairmen Jointly Present 2024 Budget Estimate to Aiyekire LGA/Gbonyin LCDA Legislative Council.

In fulfillment of their statutory responsibility, Prince Ayodele Fadumiye, the Chairman of Aiyekire Local Government, presented the 2024 budget estimate of five billion, seven hundred and eighteen million Naira (N5,718,000,000.00) on Tuesday. This was on behalf of Aiyekire/Gbonyin LCDA council area to the local government legislative council for consideration and passage. The proposed estimate, named 'Budget of Renewed Hope,' marks a significant increase of 150% from the 2023 capital expenditure.

The sources of funding for the 2024 Budget include recurrent revenue, allocation from the Federation Account, internally generated revenue, 10% of the state's contribution to IGR, Value Added Tax (VAT), Excess Crude Oil, Ecology, SURE P, and Women's program.

The chairman emphasized that the budget aligns with the present economic challenges and the new direction agenda of the state government. Recurrent expenditure is projected at 2,618,515,052.80, while capital expenditure will amount to 3,099,484,947.20.

Expressing gratitude to the legislative council for their cooperation, the chairman highlighted the balanced nature of the budget and urged everyone to contribute to the development of the Local Government Area/Local Council Development Area. He emphasized the need for prompt payment of taxes to expand the revenue base.

The event was attended by Hon. Damilare Ajayi, the Gbonyin LCDA counterpart, Council Executive Members, Management Team, Traditional rulers, Security Personnels, and Stakeholders. The Chairman assured that the budget provisions would lead to improved developmental programs across all sectors.

Hon. Akinyemi Bola, the Leader of the House, assured an expedited hearing and passage of the budget proposal through due process. He thanked leaders and stakeholders for their presence and pledged continued cooperation with the council leadership.

In his vote of thanks, Hon. Martins from Agbado-Ekiti Ward commended both Aiyekire/Gbonyin LCDA Chairmen for their developmental projects. Chief Anthony Ajila, Director of Administration, Gbonyin LCDA, stressed the importance of a robust and realistic 2024 Budget to ensure increased dividends of democracy. He commended the Executive Chairmen for quality service delivery and thanked all participants for their positive contributions to the preparation and presentation of the Year 2024 budget estimate, titled "Budget of Renewed Hope."