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George Onyejiuwa, Owerri
Imo Governor, Emeka Ihedioha yesterday presented a proposal of N197.6 billion for the 2020 fiscal year to the House of Assembly.
The budget proposed N91.4 billion for the recurrent expenditure and a capital expenditure of N106.2 billion which represents 53.8 per cent of the proposed budget.
The Consolidated Revenue Fund Charges (CRFC) will remain the same with the 2019 budget provision at N16.3 billion. Presenting the budget tagged “Rebuild Imo Budget 1,” Ihedioha disclosed that the personnel cost for Ministries reduced from N15.3 billion in 2019 to N8.9billion representing 41.5 per cent reduction.
He said overhead cost in the proposed 2020 budget increased from N17 billion to N34.7 billion as a result of increase in government activities, restoration of full workers’ salaries, allowances and the observance of the principle of separation of power among the three arms of government. He, however, disclosed that stringent measures would be taken to cut expenditures by Ministries, Department and Agencies (MDAs).
Ihedioha explained that the budget would focus on road infrastructure, improving on the ease of doing business and improving social infrastructure such as education, health services, water and sanitation.
He added that this would be achieved through the enhancement of internally generated revenue, smart public private sector investment and mutually beneficial state and local government partnerships.
