Ika North East LG boss presents N1.8bn draft budget

AGBOR?Chairman of Ika North East local government area of Delta State,
Mr. Festus Iwerebor, has presented  conservative draft budget of
N1,828,920,833.24 christened ?Budget of Consolidation? to the
legislative arm of the Council.
Presenting the draft budget to the legislature at the council
secretariat recently Mr. Iwerebor said though the presentation came
rather behind schedule, the delay was to ensure that adequate budgetary
provision were made in line with the three-point agenda of the state
government.He noted that the draft budget was meant to enhance
the living standard of the people, saying that efforts are geared
toward capacity building and the completion of all ongoing projects as
well as embark on new ones that will impact positively on the lives of
the people.The council boss observed that though the budget is
by no means exhaustive, special attention will be given to other
sectors as the need arises.According to the proposal, the
expenditure for 2009 were to be sourced from Federal Statutory
Allocation N1,084,295,320.24; VAT N160,381,513.00; State Allocation N
270.000,000; Excess Crude N300,000,000; Internal Revenue (IGR)
N14,244,000.00.While the capital expenditure stood at
N1,166,500,000 shared among Economic, Social Area Development Sector
and Administration and repayment of Capital Loan while Re-occ|urent
Expenditure is made up of N712,420,833.24 with Consolidated Revenue
Fund taking the lager chunk of N110,480,833.24, Personal Cost
N330,100,000; Overhead Cost N221,840,000 and Internal Debt Servicing
N50,000,000.00.Receiving the draft budget, the Leader of the
Legislative Arm, Hon Agbomah Chukwudi said the House will do everything
possible to give the budget accelerated consideration, in order to move
the council forward.