{"id":19189,"date":"2025-12-19T12:39:43","date_gmt":"2025-12-19T12:39:43","guid":{"rendered":"https:\/\/thenewsnow.org\/?p=19189"},"modified":"2025-12-19T15:25:12","modified_gmt":"2025-12-19T15:25:12","slug":"budget-2","status":"publish","type":"post","link":"https:\/\/thenewsnow.org\/index.php\/2025\/12\/19\/budget-2\/","title":{"rendered":"Agbado Oke-Odo LCDA Proposes \u20a67.87bn Budget of Progress and Sustainability for 2026"},"content":{"rendered":"

\"\"
\nAgbado Oke-Odo Local Council Development Area has proposed a total budget of <\/span>\u20a67.87 billion<\/span> for the 2026 fiscal year, with strong emphasis on infrastructure development, social services, healthcare, education, and security.<\/span><\/p>\n

The Executive Chairman of the council, <\/span>Mayor Abiodun Jimoh Isola<\/span>, presented the proposed <\/span>2026 Budget of Progress and Sustainability<\/span> to the Legislative Council at the council chamber on Friday, December 19, 2025, describing it as a landmark financial plan and the first budget of his administration.<\/span><\/p>\n

\"\"<\/p>\n

According to the chairman, the proposed budget stands at <\/span>\u20a67,865,866,100.49<\/span>, reflecting the administration\u2019s commitment to responsible governance, planning, and inclusive development following the mandate given by residents of the LCDA.<\/span><\/p>\n

Revenue Projections<\/span><\/p>\n

Mayor Isola explained that funding for the budget would be sourced from a mix of statutory allocations and internally generated revenue. The largest portion of the revenue is expected from <\/span>Value Added Tax (VAT)<\/span>, estimated at <\/span>\u20a65.90 billion<\/span>, while <\/span>Federal Statutory Allocation<\/span> is projected at <\/span>\u20a61.51 billion<\/span>.<\/span><\/p>\n

Other revenue sources include <\/span>FAAC-related allocations<\/span> amounting to <\/span>\u20a6112.24 million<\/span>, <\/span>Internally Generated Revenue (IGR)<\/span> of <\/span>\u20a6232.74 million<\/span>, and <\/span>State Coordinated Revenue<\/span> estimated at <\/span>\u20a6104.26 million<\/span>.<\/span><\/p>\n

\"\"<\/p>\n

Expenditure Breakdown<\/span><\/p>\n

On the expenditure side, the chairman disclosed that <\/span>\u20a63.36 billion<\/span> has been earmarked for <\/span>capital and other development projects<\/span>, making it the single largest allocation in the budget. This underscores the administration\u2019s focus on physical infrastructure and long-term development.<\/span><\/p>\n

Personnel costs<\/span> are projected at <\/span>\u20a61.41 billion<\/span>, while <\/span>overhead costs<\/span> will account for <\/span>\u20a62.95 billion<\/span>. An additional <\/span>\u20a6150 million<\/span> has been allocated to <\/span>social services<\/span>, targeting welfare-driven interventions for residents.<\/span><\/p>\n

The expenditure framework, he noted, aligns fully with the total budget size of <\/span>\u20a67.87 billion<\/span>, ensuring fiscal balance.<\/span><\/p>\n

\"\"<\/p>\n

Key Priority Areas<\/span><\/p>\n

Mayor Isola highlighted that the 2026 budget is structured around critical sectors aimed at improving the quality of life across Agbado Oke-Odo LCDA. These include enhanced access to <\/span>primary healthcare<\/span>, improved <\/span>education standards<\/span>, strengthened <\/span>security of lives and property<\/span>, and accelerated <\/span>road construction and rehabilitation<\/span> to boost economic activities.<\/span><\/p>\n

The budget also prioritises <\/span>youth and women empowerment<\/span> through entrepreneurship support and targeted social interventions.<\/span><\/p>\n

\"\"<\/p>\n

Call for Legislative Support<\/span><\/p>\n

Describing the budget as a clear statement of purpose, the council boss appealed to members of the Legislative Council for cooperation and speedy consideration of the proposal to enable timely implementation.<\/span><\/p>\n

He reaffirmed his administration\u2019s commitment to accountability, compassion, and sustainable development, expressing confidence that the budget would lay a solid foundation for shared prosperity in Agbado Oke-Odo LCDA.<\/span><\/p>\n

\"\"<\/p>\n

Receiving the budget, the Leader of the Legislative House of the council, Hon. Wasiu Giwa Aduragbemi, promised accelerated deliberations and passage in the overall interest of residents.<\/p>\n

He assured the Chairman of the full support and cooperation of the legislative arm toward the successful implementation of the 2026 budget.<\/p>\n

On his part, the immediate past council boss, Hon. David Oladapo Famuyiwa, commended the chairman for excellent performance in his first 100 days in office.<\/p>\n","protected":false},"excerpt":{"rendered":"

Agbado Oke-Odo Local Council Development Area has proposed a total budget of \u20a67.87 billion for the 2026 fiscal year, with<\/p>\n","protected":false},"author":1,"featured_media":19196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-19189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts\/19189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/comments?post=19189"}],"version-history":[{"count":5,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts\/19189\/revisions"}],"predecessor-version":[{"id":19198,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts\/19189\/revisions\/19198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/media\/19196"}],"wp:attachment":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/media?parent=19189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/categories?post=19189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/tags?post=19189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}