The Executive Chairman of Abeokuta North Local Government, Dr. Lanre Oyegbola Sodipo, on Thursday, April 10, 2025, unveiled the much-anticipated 2025 budget proposal, aptly titled “Budget of Hope and Prosperity”, before the Legislative Council, led by Hon. Moruf Erubami.
While addressing council members at the legislative chambers, Dr. Sodipo emphasized that the presentation marked a significant milestone in participatory governance. He reflected on the 2024 fiscal year, noting that the budget performance had set a commendable standard. Moreover, he commended the council team and residents of Abeokuta North for their unwavering support, civic cooperation, and shared commitment to progress.
Strategic Priorities: Infrastructure, Security, and Economic Empowerment
The 2025 budget outlines a strategic development roadmap that targets infrastructure, security, skill acquisition, environmental sustainability, and economic empowerment. According to the Chairman, these sectors will drive business growth and improve the overall quality of life. In addition, he pledged to ensure that all wards benefit from impactful projects, particularly those in previously underserved areas.
Budget Breakdown and Financial Overview
In reviewing the 2024 budget, Dr. Sodipo reported that the local government projected ₦6.1 billion in revenue. By October 31, it had already generated ₦5.49 billion, 94%, from the Federation Account, while internally generated revenue (IGR) reached ₦170.9 million, which accounted for 59% of its target. He also detailed how the administration spent ₦1.04 billion on personnel costs, ₦512.9 million on overheads, ₦515.1 million on capital projects, and ₦3.83 billion on consolidated fund charges.
For 2025, the local government plans to allocate ₦1.39 billion (13.2%) to capital expenditure, ₦1.23 billion to salaries and allowances, and ₦4.01 billion to consolidated fund charges. Dr. Sodipo assured stakeholders that his team would uphold fiscal discipline and transparency to ensure maximum impact and accountability.
Council Commendation and Path Forward
Hon. Moruf Erubami, the Leader of the Legislative Council, expressed appreciation for the chairman’s vision and leadership. He described the administration’s track record as exemplary and called on all stakeholders to remain diligent in their roles. Furthermore, he reaffirmed the council’s commitment to supporting the executive arm in building a greater Abeokuta North.
The 2025 budget will draw its funding from the Federation Account Allocation Committee (FAAC), internally generated revenue, and state-coordinated revenue sources. With a clear people-first approach, the budget promises to deliver inclusive growth, renewed economic opportunities, and transformative development across the local government.
