The Badagry Local Government has presented a proposed sum of ₦2,153,844,976.28k budget for the 2020 fiscal year.
The Chairman of the local government, Hon. Olusegun Onilude, made this known during the presentation of the proposed budget to the legislative arm of the council for approval.
Giving the breakdown of the budget, Onilude said the recurrent expenditure is expected to gulp the sum of ₦1,523,506,008.79k, while overhead expenditure is pegged at ₦471,147,523.63k .
He pointed out that the sum of ₦630,338,,967.49k is expected to be spent on the total capita projects which represents the social service expenditure and non-current assets.
The council boss noted that in the budget, the sum of ₦170,000,000 has been proposed for the purchase of heavy duty equipment and machinery which would further enhance “our developmental projects. The local government intends to borrow this sum of money from the Zenith Bank plc and this applies to other local government and local council development areas as well.”
Responding on the occasion, the leader of the legislative arm of the council, Hon Taofeek Akindele, commended Onilude for transforming the local government area and bringing dividends of democracy to the people of the council area.
He assured the chairman of the speedy passage of the proposed budget for the benefit of the people of the local government.