Monday, 1 March 2021

Iyadim presents N9.6bn For 2021 Tagged Budget Of Reconstruction to Bakassi Legislative Council

Otunba Charles | 28 February 2021

The chairman of Bakassi Local Government Council Hon Chief Iyadim Amboni Iyadim yesterday presented the Bakassi 2021 Appropriation Bill of 9,627,839,030.00 tagged Budget Of Reconstruction to  Bakassi Legislative Council

According to Iyadim, the economic outlook of the budget is predicted on the Global Economic Trend as the vision of the  council is to transform the area to world class standard through innovative leadership, transparency, accountability and people's oriented service aligned to the diverse population, natural setting and community needs

Iyadim said, " We are budgeting for three years and we intend to put measures in place that will not derail  the budget and plans", explaining that, " to achieve this, the council intends to grow its Internally Generated Revenue IGR annually by 150% , achieve 50% infrastructural needs of communities in 2023, achieve 50% improvement in health care delivery by 2023, reduce the population of unskilled manpower to 20% by 2023 and  achieve 80% in agricultural output"

He emphasis that in order to achieve these objectives , the council intends to carry out the  following, " proper allocation of scarce resources for the benefit of Bakassi people, effective utilization of human, financial aid natural resources in order to reduce poverty , create wealth and ensure peaceful coexistence , key into state government plans and programs as well as encourage private sector participation in  the Council's developmental programs"

He stated that, " Consequently, in line with the Global Economic Challenge and the destruction of property during the ENDSARS protest in Bakassi Local Government Area, the estimated total revenue receipts as well as expenditure has been raised to N9,627,839,030.00 representing about 186% increase from last year's budget

The source of the budget  includes  Opening Ballance  N19,153,741.00, Internally Generated Revenue IGR N48,966,012.00, State Statutory Allocation N1,500, 000,000.00, Federal Statutory Allocation N1, 936,139,682.00, Value Added Tax N624,138,567.00, Miscellaneous N392,840,385.00, Loans N106,550,000.00 and Grants N5,000,000,000.00

Explaining further, the chairman stressed that out of the proposed  budget , N 4,061,588,211.00 will be expended  directly by the council which N 1,771,672,882.00 be spent on Recurrent  Services and N2,289,915,329.00 will be for  Capital, N906,250,819.00 for Statutory Transfers and N4,660,000,000.for Special Projects

Responding, the Leader of Bakassi Legislative Council, Hon Pastor Emmanuel Michael Effiong, appreciated the efforts of executive arm and assured that the sixth assembly of the council will sit down and uphold what will succour to the people of Bakassi while assuring to work with the executive to ensure its plans are fruitful
Effiong noted the receipt of the budget proposal, adding that ," In due course, we reach you after taking appreciate actions"