Ugo Nosiri, Owerri
The Imo State Government has presented a budget proposal of five hundred and ninety two billion, two hundred million naira, ( N592.2 b) to the Imo State House of Assembly for the 2024 fiscal year.
Presenting the budget tagged Budget of Renewed Economic Growth, at the hallowed Chambers of the Assembly, Governor Uzodimma explained that the budget would stimulate and fast track economic growth in the state.
Governor Uzodimma noted that the recurrent expenditure of the budget stood at N100.99 billion naira representing 17 per cent, while capital expenditure stood at N491.2 billion capital expenditure, representing 83 per cent.
He noted that the state under his watch would continue to implement people oriented policies and programmes that would enable the state to achieve extensive infrastructural development, human capital development, increased revenue generation, job creation, poverty reduction and improved security.
“…This administration is determined to checkmate all forms of leakage or waste of public resources; prudent and efficient management of public fund is the new norm that cannot be compromised. As always all capital project must be subject to due process routine scrutiny. All Commissioners or heads of MDAs with their permanent secretaries or Directors of finance and administration will henceforth be required to commit in writing and under oath that the budgetary allocations to their MDAs shall be spent as appropriated.”
The speaker of the House of Assembly, Mr. Chike Olemgbe while receiving the budget proposal, promised to ensure its accelerated passage noting that it was aimed at providing more infrastructural facilities, carry out other social and economic activities.
“The presentation of the budget as we are witnessing today is therefore a major annual important parliamentary event widely anticipated with extensive political analysis and speculations. It is the very blue print of Government’s economic and fiscal measures.”