The Executive Chairman of Isin Local Government, Hon. Jolayemi Benjamin Lanre, has presented a ₦5.36 billion budget proposal for the 2025 fiscal year to the Legislative Council.
The budget, tagged the “Budget of Consolidation,” aims to foster economic stability, enhance public services, and strengthen infrastructural development across the local government.
In his address, Hon. Jolayemi emphasized that the budget adheres to International Public Sector Accounting Standards (IPSAS) and aligns with federal and state government directives.
He highlighted the administration’s commitment to education, healthcare, agriculture, and sustainable development while ensuring that every expenditure contributes to the prosperity of Isin residents.
Before unveiling the budget, the Chairman reflected on key achievements since his administration assumed office on September 23, 2024.
These include:
1. Grading of roads across the local government
2. Renovation of offices, including the Development Officer’s and Inspectorate offices
3. Electrification projects across Isin Land
4. Legislative Hall renovation
5. Repair and refurbishment of government vehicles
6. Borehole repairs across Isin wards
Hon. Jolayemi presented a total budget of ₦5,355,059,917.47, with revenue projections from statutory allocations, VAT, internally generated revenue (IGR), and capital receipts.
Projected Revenue Sources:
Opening Balance: ₦39.1 million
Statutory Allocation: ₦508.7 million
Value Added Tax (VAT): ₦2.37 billion
10% State Revenue: ₦128.6 million
Internally Generated Revenue (IGR): ₦17.6 million
Other Capital Receipts: ₦2.29 billion
Expenditure Plan
The budget allocates ₦3.85 billion for recurrent expenditure, including:
Teachers’ salaries, training, and related expenses: ₦1.08 billion (20%)
Personnel cost: ₦906.3 million (17%)
Overhead cost: ₦582 million (11%)
Consolidated Revenue Fund (CRF): ₦1.29 billion (24%)
Capital Expenditure: ₦1.5 billion (28%)
Sectoral Allocation of Capital Expenditure
General Public Services: ₦313 million (20.9%)
Agriculture: ₦57 million (4%)
Environmental Protection: ₦18.8 million (1%)
Housing & Community Amenities: ₦595 million (40%)
Health: ₦165 million (11%)
Recreation, Culture & Religion: ₦30 million (2%)
Education: ₦320 million (21%)
Social Protection: ₦2 million (0.1%)
Hon. Jolayemi urged the Legislative Council to give swift approval to the budget, emphasizing that it is not merely a financial statement but a strategic roadmap for Isin’s development.
“This budget is a reflection of our collective aspirations. I call on all honorable members to ensure that every naira is accounted for, fostering transparency and accountability in governance,” he said.
The budget proposal now awaits legislative scrutiny and approval.
Adding prestige to the event, His Royal Majesty, Oba Dr. Olugbenga Oloyede, the Olusin of Isanlu Isin and Chairman of the Isin Traditional Council, was present to witness the occasion.
The event also saw the attendance of several high-ranking local government officials, who play crucial roles in the administration of Isin Local Government. These included the Vice Chairperson, Honorable Ganiyat Omolara Sanni, and other key department heads, such as the Director of Personnel Management, the Head of the Agricultural Department, the Head of the Education Department, the Head of the Administration Department, the Head of Public Relations and Services, and the Head of the Works Department.
The budget presentation marks a significant step in the local government’s planning process, laying out the financial priorities for the year.
As the next step, the Isin Local Government Legislative Council will review and deliberate on the proposed budget before granting their approval. This is a vital process, ensuring that the allocation of resources is in line with the needs and expectations of the local community.
