The Executive Chairman, Ibesikpo/Asutan Local Government Area, Hon. (Mrs) Akon Michael Asuquo has presented the 2021 Budget Proposal of #2.391bn to the 7th Legislative Council of Ibesikpo/Asutan Local Government Area for ratification.
Presenting the Estimates Christened “BUDGET OF RECONSTRUCTION” on the floor of the legislative chamber on Tuesday, 22nd June, 2021, Hon. (Mrs) Asuquo disclosed that the 2021 Estimates was prepared as a result of the fallout of the global downtown in the World Economy arising from the aftermath of the Covid-19 pandemic.
“As noticed everywhere, the adverse effect of this Pandemic has dealt a blow on the Revenue base of Federal, state and Local Governments in the country, thus leading to the downward review of Economic Parameters of Governments” she stated
Speaking further, the council helmsman said the budget is fashioned to help actualize her administration’s policies and programmes, noting that her administration was poised to carry out developmental projects and programmes for the betterment of the people of Ibesikpo/Asutan Local Government Area irrespective of the challenges posed by the aftermath of the pandemic.
Projecting the 2021 budget size, Hon. (Mrs) Akon M. Asuquo estimated a total budget size of #2,391,130,000.00 (Two Billion, Three Hundred and Ninety one Million, one hundred and thirty thousand naira) only, as against #N2,342,100,000.00 (Two Billion, Three Hundred and Forty Two million, One Hundred thousand naira) only, for year 2020.
On the total estimated recurrent revenue for year 2021, Hon. Asuquo projected #2,261,000,000.00 (Two Billion, Two Hundred and Sixty One Million naira) only as against #2,212,000,000.00 (Two Billion, Two Hundred and Twelve Million naira) only of the 2020 approved budget.
While the total recurrent expenditure for 2021 is estimated at #1,988,000,000.000 (One Billion, Nine Hundred and Eighty Eight Million naira) only, reflecting an increase of #86,000,000.000 (Eighty Six Million naira) only from the 2020 approved budget of #1,902,000,000.00 (One Billion, Nine Hundred and Two Million naira) only.
On Capital Receipt, the council boss said a total of #403,130,000.00 (Four Hundred and Three Million, One Hundred and Thirty Thousand naira) only was estimated in the 2021 budget, showing a slope of #37,000,000,000 (Thirty Seven Million naira) only from the 2020 approved budget where the estimated Capital Receipt as approved was #440,100,000.00 (Four Hundred Forty Million, One Hundred Thousand naira) only.
Hon. (Mrs) Akon Michael however highlighted the sector by sector allocation for 2021 as follows:
“Economic sector-#120,500,000.00 (One Hundred and Twenty Million, Five Hundred Thousand naira) only, reflecting a (29.9%) of the total capital estimates.”
For Social Service Sector, she estimated “#65,170,000.00 (Sixty Five Million, One Hundred and Seventy Thousand naira) only representing (16.17%) of the total capital estimates.”
While #60,200,000.00 (Sixty Million, Two Hundred Thousand naira) only was estimated for Environmental and Regional Development Sector, representing (14.91%) of the total capital estimates, #157,260,000.00 (One Hundred and Fifty Seven Million, Two Hundred and Sixty Thousand naira) only was estimated for General Administration sector, which reflects (39.02%) of the total capital estimates.
The Ibesikpo/Asutan council boss concluded that, the realization of the projects and programmes as captured in the Estimates can only be achieved through the collective efforts of all, as she looks forward to transforming Ibesikpo/Asutan to a model Local Government Area.
Notable at the ceremony were; Executive and Legislative members of Ibesikpo/Asutan Local Government Council, past and present political leaders, Traditional Rulers, Stakeholders and Management and staff of Ibesikpo/Asutan Local Government Area.