Nonsochukwu Uwa, Owerri
Imo State Governor, Hope Uzodimma, on Tuesday presented a budget of N474.4 billion for 2023 fiscal year to the Imo House of Assembly for approval.
The budget was tagged, “Budget of Wealth Expansion.” Presenting the budget proposal, the governor stated: “After a careful assessment of the present economic situation in the Country and the prevailing Macro-Economic indices, it is my pleasure to present to you a total proposed 2023 Budget of N474, 466,276,267.00 (Four Hundred and Seventy Four Billion, Four Hundred and Sixty Six Million, Two Hundred and Seventy Six Thousand, Two Hundred and Sixty Seven Naira).
The budget is appropriately christened, “Budget of Wealth Expansion.”
According to Governor Uzodimma, “the total Recurrent Revenue for 2023 budget is N150,450,189,428 while that of 2022 was N142,855,407,202. This represents 5.1% increase in revenue projection. While the recurrent expenditure was put at N100, 904,085,427.73 as against the sum of N96, 746,349,775 in 2022 approved budget. This shows 4.1% increase.
“The capital expenditure in the 2023 Budget is N373,562,190,839 compared to the sum of N284,416,597,902 in the 2022 approved budget, showing a 23% increase.”