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By Udo Gospel

 

 

 

Hon Emmanuel Egbabor

Hon Emmanuel Egbabor

Isoko North Legislative Arm Friday passed the 2015 Appropriation Bill, with a budget size of N2.252billion. The 2015 Appropriation Bill christened “Budget of Hope” shows no changes in the total amount of N2.252 billion that was presented by the Executive Chairman Hon. Emmanuel Egbabor to the Legislative Arm barely one week ago. The passage of the bill followed the consideration of the report of the House Committee on Finance and Appropriation presented by its Chairman, Hon Omuta Ogaga Ugboro.

 

The House, presided over by the Leader, Rt. Hon. Felix Efe Ogona adopted the report of the Committee for the consideration of the bill following a motion moved by the  Majority Leader, Hon Alex Okathe and seconded by Chief Whip Hon. Isaiah Ewuku.

 

The House passed N673 million for capital expenditure representing 29.9 per cent of the total budget size, while the total of N1.582 billion representing 70.1 per cent was passed for recurrent expenditure for the year under consideration.

 

According to the breakdown of the budget, economic sector stood at N611.1 million which amounts to 27.13 per cent of approved expenditure estimates. The sum of N754.03 million is appropriated for the Social Sector, representing 33.48 per cent of the approved capital expenditure provision, while General Administration amounted to N800.8 million representing 35.55 per cent of the approved expenditure estimates.

 

The Recurrent Expenditure, comprising of aggregate of personnel costs, consolidated revenue fund charges (CRFC), allowances, overhead cost is distributed as: personnel costs: N513.4 million; CRFC: N254.9 ; Allowances: N387.9 million and overhead cost: N423 million.

 

The Leader of the Legislative Arm Rt. Hon. Felix Efe Ogona said the House accelerated the passing of the budget because it their strong desire to partner with the Executive arm to bring hope for the people of Isoko North Local Government.

 

Hon. Ogona expressed strong optimism that with an anticipated improvement on the nation’s economy, there is no doubt that the budget will indeed bring hope to the people of Isoko North.