Governor of Imo State Hope Uzodinma has presented an Appropriation Bill totalling N592.2 billion for the 2024 fiscal year to the House of Assembly for consideration.
The bill, christened “Budget of Renewed Economic Growth,” comprises N100.99 billion recurrent expenditure, representing 17 per cent, and N491.2billion capital expenditure, representing 83 per cent.
Presenting the bill to the Assembly, Uzodimma 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.
He said the budget “Is focused on the rapid economic growth of the state”.
The governor promised that every fund projected for the development of the state must be judiciously used to achieve common goal.
He highlighted that the administration would continue to vigorously pursue his vision to establish a state “where justice and equity for all are guaranteed.”
Uzodimma stressed that the administration would remain prudent, cutting off frivolous expenditures in order 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 submitted.
He urged the Assembly to grant the budget accelerated hearing, so as to ensure readiness in January 2024.
In his comment, the Speaker, Chike Olemgbe, commended the governor for ensuring harmonious working relationship between the executive and legislature.
Olemgbe said that the development had provided a conducive environment for the legislatures to carry out its duties towards the development of the state without hindrance.
He said that the 2024 budget aims to provide more infrastructure and facilitate other economic activities of the government for the general good of the people.
He commended the governor for being the “most responsible governor, since the inception of the state”.
He promised that the legislature would continue to partner with the executive to ensure that the state is secure and conducive.
He adjourned the house to December 14 for the second reading of the budget.
