Ejigbo LCDA approves N2.3b 2020 budget

By Olushola Okewole

The Ejigbo Local Council Development Area (LCDA), has finally approved N2, 264, 456,228.07 budget for the 2020 fiscal year after reviewing the initial proposed budget.

In the budget, a total sum of N1,345,082,491.23 representing 60 per cent of the budget is earmarked for recurrent expenditure while capital expenditure takes 40 per cent in the sum of N919,373,736.84.

ECHONEWS gathered that the initial proposed budget had been reduced by 40 per cent due to the outbreak of Covid-19 which affected the revenue generation of the government.

It was also gathered that the reduction in the budget size affected the recurrent expenditure more than the capital expenditure.

The Head of Budget Department of the local council, Mrs Adesegun, told ECHONEWS that there was no budget pre-Covid-19, saying it was only a proposed budget which had not been approved before the pandemic.

She insisted that the proposed one could not be referred to as a Budget since it was still being deliberated upon.

She disclosed that the proposed budget was thoroughly reviewed to suit the economic situation of the council during the pandemic, saying there was need to have a budget that would be effective and achievable amidst the economic challenge.

According to her, it is the revised one that was finally approved which now stands as the 2020 budget of the local council.