Adedayo Ladega, the executive chairman of the Ikorodu Local Government Area of Lagos State, has presented a N5.4 billion 2026 budget proposal to the legislative arm.

Mr Ladega, while presenting the budget tagged “Budget of Prosperity” to the council’s legislative arm on Monday, said the proposal was 24.3 per cent higher than the 2025 approved appropriation.

He stated that the council’s internally generated revenue (IGR) was projected at N184,450,000, while the allocation from the federation account was estimated at N1,242,950,352.43 and value-added tax (VAT) at N3,756,695,711.89.

According to him, state-coordinated revenue was set at N91,500,000, while other FAAC-related allocations totalled N134,409,723.56.

He added that total recurrent expenditure was projected at N2,736,732,534.

Mr Ladega said the budget was realistic, practical, and people-focused.

He explained that it was designed to improve the lives of Ikorodu residents by enhancing security, strengthening education, improving primary healthcare, and delivering more development projects.

Mr Ladega thanked President Bola Tinubu for giving the council the opportunity to plan and prepare for effective execution.

He noted that much could be achieved with the available allocation.

According to him, his administration is guided by the S.E.E.D. Agenda—Security, Education, Enhanced healthcare, and Development—aimed at boosting economic and infrastructural growth in the area.

He highlighted some of his achievements since assuming office, including an empowerment programme for 500 beneficiaries, road projects across all wards, and the installation of solar-powered boreholes.

He also mentioned the Mudun Mudun Ladega cash empowerment initiative for vulnerable residents as one of his achievements.

Earlier, Wasiu Shotomiwa, leader of the Ikorodu Local Government legislative arm, said the 2026 Budget of Prosperity was a statement of intent.

He assured stakeholders that the legislature would conduct thorough scrutiny, engage constructively, and consider the budget in a timely manner to ensure transparency, accountability, and value for money.

In his remarks, Abiodun Ogunleye, former deputy governor of Lagos State and a member of the Governor’s Advisory Council, described the budget size as commendable, considering the tremendous achievements recorded within the short period since Mr Ladega was sworn in.

He expressed confidence that the resources would be well managed to deliver positive impact and sustained growth in the community after scrutiny by the legislative arm.

(NAN)