The Chairman of Ikorodu Local Government in Lagos State, Mr. Wasiu Adesina, has signed the 2022 Appropriation Bill into law, with an estimation of N1.95 billion.
The “Budget of New Beginning”, was passed by the legislative arm after assessment early this year.
Adesina said the council hoped to receive N420. 15 million from federal allocation, N1.23 billion from Value Added Tax (VAT) and N131 million from Internally Generated Revenue (IGR) and State Coordinated Revenue.
On expenditure, the chairman said personnel cost for workers was put at N384.6 million, teachers’ salary, N395. 13 million, while statutory deductions stood at N116. 26 million.
He said overhead got N485 million, social services projection, N14 million, while non-current asset was put at N554 million.
Adesina hailed the legislature, management team and council officials for their efforts in the budgetary process.
The Leader of the house, Mr Adebowale Ajayi, praised the chairman for the success recorded in all sectors.
He said they had gone through the budget and done the needful.
Besides signing the bill, the chairman presented a TACOMA car to the revenue generation unit, to facilitate their activities.