Imo State Governor, Senator Hope Uzodinma on Tuesday presented the state Appropriation Bill totalling N592.2 billion for the 2024 fiscal year to the state’s House of Assembly for consideration and approval.
The bill comprised N100.99 billion recurrent expenditure, representing 17 per cent, and N491.2 billion capital expenditure, representing 83 per cent.
Presenting the bill on the floor of the house, Mr Uzodinma said the capital expenditure increased by 32 per cent.
This, according to him, is an indication of his determination to stimulate and fast-track the economic growth of the state.
The governor promised that every fund projected for the development of the state would be judiciously used to achieve a “common goal”.
He said his administration would continue to vigorously pursue his vision to establish a state “where justice and equity for all are guaranteed”.
He further said that his administration would remain prudent, cutting off frivolous expenditures, to be able to 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 the budget accelerated passage to ensure that it was ready from 1 January 2024.
Earlier, the Speaker of the assembly, Chike Olemgbe (APC- Ihitte Uboma), commended the governor for ensuring a “harmonious working relationship” between the executive and the legislature.
Mr Olemgbe said the development had provided a conducive environment for the legislature to carry out its duties towards the development of the state without any complaints.
He said the 2024 budget aims to provide more infrastructure and also facilitate other economic activities of the government for the general good of the people.
Mr Olemgbe thanked the governor for being the “most responsible fiscal governor since the inception of the state”.
He also commended him for his efforts toward ending insecurity in Imo and promised that the legislature would continue to partner with the executive to ensure that the state is secure and conducive.
The house adjourned to 14 December for the second reading of the Appropriation Bill.
(NAN)
