Onogba Signs 2025 Budget of 14.6Billion into Law.

By Ovibel Media.

The Executive Chairman of Ethiope West Local Government Council,Hon. Chris Onogba has signed the 2025 budget of 14.6 billion Naira into law.

The working Executive Chairman,Hon. Onogba signed the budget shortly after the Legislative Arm of the Council passed and transmitted it for his assent.

The signing ceremony took place at the office of the Executive Chairman in the presence of principal members of the Legislative Arm and the Executive Council.

Below is breakdown of the Budget:

Projected Revenue:

Statutory Allocation (FAAC): ₦6.37 billion (43.44%)

Share of VAT: ₦2.77 billion (18.87%)

SURE-P: ₦1.65 billion (11.25%)

Exchange Gains: ₦1.78 billion (12.11%)

10% State Allocation: ₦1.47 billion (10.03%)

Independent Revenue (IGR): ₦198.94 million (1.36%)

Electronic Money Transfers Levy: ₦151.49 million (1.03%)

Aids and Grants: ₦100 million (0.68%)

Opening Balance: ₦180.68 million (1.23%)

Total projected revenue therefore stands at: #14,673,420,206.64.

Expenditure:

Capital projects (₦5.93 billion, 40.45%),

Overheads (₦4.12 billion, 28.08%),

Salaries for council staff, primary schools, and the CRF (₦3.79 billion, 25.80%).

Additionally, provisions have been made for debt repayment (₦350 million, 2.38%) and internal loan repayment (₦487.32 million, 3.32%), ensuring responsible financial management.

Shortly after signing the budget into law, Hon. Chris Onogba commended Members of the Local Government Legislative Assembly for their proactive approach in reviewing and approving the fiscal plan,while he emphasized for more collaboration among every organs of government.