…to spend N100.99B on recurrent expenditure
From George Onyejiuwa, Owerri
Imo state governor, Senator Hope Uzodinma on Tuesday presented a budget proposal of N592.2 billion for the 2024 fiscal year to the Imo State House of Assembly for approval.
The budget tagged, “budget of renewed economic growth,” is made up of N100.99 billion recurrent expenditure, representing 17 per cent and N491.200 billion capital expenditure, representing 83 per cent of the total budget.
Governor Uzodimma stated that the 2024 budget is focused on the rapid economic growth of the state, adding that every fund projected for the development of the state must be judiciously used to achieve common goals.
He added that his administration will continue to vigorously pursue his vision to establish a state where justice and equity for all is guaranteed.
He also said the capital expenditure increased by 32 percent, which he said is an indication of his determination to stimulate and fast-track the economic growth of the state.
The governor went on to add that his administration will remain prudent, cutting off frivolous expenditure to help fund capital projects in the state.
“Prudent and efficient management of public funds is the new norm that cannot be compromised; as always, all capital projects must be subject to due process, routine scrutiny and audit,” he said.
He urged the House to grant an accelerated passage of the budget Bill to ensure that it is available from January 1, 2024.
Earlier, the Speaker, Mr Chike Olemgbe (APC- Ihitte Uboma), commended the governour for ensuring that there is a harmonious working relationship between the executive and the legislature.
He said this had provided a conducive working environment for the legislature to carry out their duties towards the development of the state without any complaints.
He noted that the 2024 budget aims to provide more infrastructure for the state and other also facilitate other economic activities of government for the good of people of the state.
Olemgbe commended the governor for being the “most responsible fiscal governor since the inception of the state, while commendinghim for his efforts towards ending insecurity in Imo.”
He pledged that the legislature will continue to partner with the executive to ensure that the state is secure and conducive.
The speaker adjourned the house to December 14 for the second reading of the budget bill.