.png)
4 days ago
2
The Council Chairman of Isi-Uzo in Enugu State, Hon. Obiora Obeagu, has presented a budget proposal of N5.5 billion for the 2025 fiscal year to the Legislative Council of the Local Government Area (LGA).
Obeagu explained that the proposal, titled the “Budget of Economic Growth and Transformation,” represents an increase from the N4.153 billion allocated in the 2024 budget. This new budget aligns with Governor Peter Mbah’s ambitious goal of boosting the state’s economy from $4.4 billion to $30 billion through enhanced private sector investment and increased productivity in rural areas.
He stated that the 2025 budget aims to support the Council’s 2025-2026 Rolling Plan, which focuses on improving food production to ensure food security, creating more employment opportunities, rehabilitating and equipping primary healthcare facilities, promoting tourism and market initiatives, enhancing transportation systems through the rehabilitation of existing rural roads and the construction of new ones, and improving the quality of education and academic grants.
Obeagu emphasised that funding for the budget would be bolstered by a marked improvement in the Council’s Internally Generated Revenue (IGR) through initiatives such as the development of multiple markets and real estate projects and addressing gaps in revenue collection.
While presenting the budget at the Council headquarters in Ikem, Obeagu remarked, “We have termed it the Budget of Economic Growth and Transformation. It is designed to unlock the economic potential of our landlocked local government as we strive to elevate Isi-Uzo from a rural to a semi-urban status.”
He detailed the budget allocations stating, “We have earmarked N2,498,390,040 for recurrent expenditure, divided into Personnel Costs/Emoluments of N2,248,390,040 and Overhead Costs of N250,000,000. Capital Expenditure is set at N3,059,800,000.”
Highlighting key capital investments, he noted, “For capital projects, Road and Bridges will receive N860 million, a significant increase from the previous budget, demonstrating our commitment to effective human resources management and improving the safe transportation of goods and services in rural communities.”
He continued, “The Gender, Water and Housing sector will receive N285 million, followed by Health with N226 million, and Power (Electrification) with N200 million. Agriculture will have N181 million, reflecting a noteworthy increase from the last budget.
“In another critical area, Information, Communication and Technology (ICT) will receive N180 million, while Education is allocated N163.8 million. It is important to acknowledge that under the Governor Peter Mbah Administration, the Smart Green Schools initiative is lightening the financial burden on local councils, with over N1 billion being invested in each of the 260 wards statewide.”
He further explained, “The Poverty Alleviation and Employment Generation sector will receive N40 million in our 2025 budget. Our administration is also committed to implementing initiatives in Youths and Sports, Environmental Improvement, and Social Re-orientation.”
Obeagu expressed confidence that the budget would enhance the LGA’s prospects, vowing to persevere against the challenges of inflation and other economic pressures that the nation faces.
“Our current budget proposal is substantial by the standards of our Local Government Council. The 2025 budget estimates signify a progressive leap forward, aiming to reach new heights.”
He acknowledged, “We recognise the realities of inflation and the depreciation of the naira resulting from the removal of oil subsidies and currency devaluation. The costs of goods and services have risen, and the purchasing power of the naira has notably declined. Nevertheless, amidst these challenges, we are committed to being innovative and making bold advancements, in line with our governor’s vision.”
“It is a bold and achievable step. We seek to sustain growth and transformation in Isi-Uzo as agents of change, progress, and development, consistent with our governance mandate.”
He reiterated their promise to improve the lives of their constituents, affirming, “We are resolute in fulfilling our commitments as endorsed by our governor during our inauguration, aligned with his mission to grow the state’s economy from $4.4 billion to $30 billion.”
Meanwhile, the Leader of the Isi-Uzo Legislative Council, Hon. Irenus Nnaji, representing Mbu Ward II, praised the Council Chairman for his dynamic, accountable, and innovative leadership, pledging swift consideration and passage of the budget.
“We are equally ready and committed to supporting you in the implementation of the 2025 budget. I repeat we will work closely with you for the development of Isi-Uzo because we believe in the selfless leadership you have provided so far. But if you deviate from your current trajectory, we will equally call you out,” he stated.
Speaking to newsmen after the budget presentation session witnessed by leaders and key stakeholders of the LGA, the Chairman of Isi-Uzo Traditional Rulers Council, HRH Igwe Okey Ogbodo, an engineer by profession, expressed satisfaction with the road, infrastructural, and agricultural development thrust of the Council, saying that it would accentuate Governor Mbah’s effort to give rural communities a better and more prosperous life.
English (US)