The Chairman of Ika North-East Local Government Area, Hon Monday Odigwe, has presented a draft budget of N13.619 Billion for 2025 fiscal year.
The budget tagged “Budget of Optimism” allocates N7,824,407,958.25 for recurrent expenditure and N5,794,712,000.00 for capital expenditure.
According to the council boss, the capital projection is 43% while the recurrent expenditure is 57% of the total budget.
Honourable Hunkamma Monday Odigwe presented the draft estimate to the local government legislative council today 25th February, 2025, during a plenary session presided over by the leader of the legislative arm, Rt. Engr. Hon. Chukwuyem Eric Dikenwosi
The budget is expected to be funded through statutory allocation, State statutory transfers and internally generated revenue.
Hon. Odigwe stated that a review of the 2024 budget shows that less than 10% of the capital budget was realized, therefore, the administration has rolled over most of the programs and projects that were contained in the 2024 budget to this year’s budget.
According to him, “It should be noted that though our revenue is constrained by competing demands; it is our utmost desire that all the programs and projects contained in the budget would be executed subject to the availability of funds”.
He added that the minimum wage bill of 2024 which was passed by the National Assembly, Assented to by Mr President and approved for implementation by His Excellency Rt. Hon. Sheriff Oborevwori is also included in this year’s estimate as it affects the local government staff and the primary school teachers.
Upon a motion moved by the Majority Leader of the House, Hon. Felix Ozabor, Councillor representing Ward 1, and seconded by Hon Alex Bointa, Councillor representing Ward 4, the draft estimate was accepted by the house as a working document.
The Leader of the Legislative Arm, Hon. Engr. Chukwuyem Eric Dikenwosi, who commended the council boss for his administrative prowess and leadership style, said that the council boss has brought a harmonious relationship between the Political class and the Civil Servants, while adding that the house will give a thorough and speedy passage to the draft estimate for the overall benefit of the people of Ika North-East Local Government Area.
In Company of the Council Chairman to the budget presentation were the Vice Chairman, Hon. Joy Egbulem, Secretary to the Local Government, Mr Tunde Etumudon, Supervisors of the council, PDP party Chairman, Hon. Chucks Agboma and his executive, Head of Personel Management, Mrs F.I. Ebite and others.
